Short time prices performance of first initial public offering (ipo): Comparative sector in Borsa İstanbul

ABSTRACT SHORT TIME PRICES PERFORMANCE OF FIRST INITIAL PUBLIC OFFERING (IPO): COMPARATIVE SECTOR IN BORSA İSTANBUL ÇAKIR, Harun M.A. Thesis, Department of Business Administration Supervisor : Asst. Prof. Soner AKKOÇ July, 2014, 105 pages This study, Borsa Istanbul in the stock market January 2008 - July 2013 between the first IPO of shares 121; the first day returns and the short-term performance is analyzed. According to this; IPO took place in Istanbul in the stock market, a return on first day of the market (1,16%) is obtained. Initial public offerings when viewed in terms of sectors, the highest of the first trading day abnormal return of 10,59% in administrative and support service activities sector is realized. Of shares offered to the public while the 21-day short-term performance is realized at the level of 5,89%. 21,60% at the end of short-term investors with the highest returns, administrative and support service activities sector; If the lowest return – 9,54% rate provides construction and public works sector. The first time in Borsa Istanbul IPO underpricing of stocks and provide high performance can be said that in the short term. This situation parallels with the findings of other studies in the literature indicate. Keywords: Initial public offering (IPO), Short-term performance, Stock market İstanbul, Sector.