THE IDENTIFICATION OF EFFECTIVE FACTORS ON ABNORMAL RETURNS OF INITIAL PUBLIC OFFERINGS (IPOS) IN TEHRAN STOCK EXCHANGE

Q: How can I download an article?

To download an article from SID, first log in to the site, search for the article title, and click on the 'Download Article' option.

Q: How can I download an ISI article?

To download an ISI article on SID, enter the keyword or article title in the search bar, view the relevant results, click on the desired article, and select the 'Download Article' option.

Q: How can I access the SID database?

To access the SID database, visit SID.ir, create an account, and log in to access scientific resources.

Q: Is downloading articles from SID free?

Some articles on SID are available for free, while others require payment. Details are specified on the article's page.

JABARZADEH KANGARLOUEI S.; ASGARI MOHAMMAD REZA

مرکز اطلاعات علمی Scientific Information Database (SID) - Trusted Source for Research and Academic Resources

Journal Paper

Paper Information

Journal: FINANCIAL ACCOUNTING Year:2010 | Volume:2 | Issue:5 Page(s): 94-119

Download Full-Text

Persian Verion

View:

2,800

Download:

Cites:

Information Journal Paper

Title

THE IDENTIFICATION OF EFFECTIVE FACTORS ON ABNORMAL RETURNS OF INITIAL PUBLIC OFFERINGS (IPOS) IN TEHRAN STOCK EXCHANGE

Author(s)

JABARZADEH KANGARLOUEI S. | ASGARI MOHAMMAD REZA | Issue Writer Certificate

Keywords

ABNORMAL RETURN OF STOCKQ2

INITIAL PUBLIC OFFERINGQ2

FORECAST ERROR OF EARNING PER SHAREQ3

Abstract

An INITIAL PUBLIC OFFERING (IPO) occurs when a security is sold to the general public for the first time with expectation that a liquid market will develop. It is the means by which a firm first obtains a listing. Shares are sold to investors and the proceeds are invested by the firm. Sometimes a listing is obtained by an entrepreneur selling her or his shares to the public and the firm issues no new shares and therefore receives no proceeds .Although an IPO can be of any debt or equity security, this thesis will focus on equity issues. In this study the existence of abnormal return in INITIAL PUBLIC OFFERING of Tehran Stock Exchange and its effective factors were examined. The results show that there is positive long term abnormal return during 12 and 24 month after the INITIAL PUBLIC OFFERING of stocks in Tehran Stock exchange. Among nine variables; FORECAST ERROR OF EARNING PER SHARE, stock market return one month before the offering of stock, leverage, margin of profit, return on equity, Size, age, Horizon, Coefficient of Variances, only FORECAST ERROR OF EARNING PER SHARE (directly) and stock market return one month before the offering of stock and margin of profit (reversely) had a significant relationship with abnormal return in 12 month after the INITIAL PUBLIC OFFERING of stocks. Also; any variable had not a relation with abnormal return in 24 month after the INITIAL PUBLIC OFFERING of stocks. However, multi variable regression analyses demonstrated that all of the variables can simultaneously justify just around 42% of abnormal return during 12 month after the INITIAL PUBLIC OFFERING of stocks in Tehran Stock exchange.

Cites

References

Cite

APA: Copy

JABARZADEH KANGARLOUEI, S., & ASGARI, MOHAMMAD REZA. (2010). THE IDENTIFICATION OF EFFECTIVE FACTORS ON ABNORMAL RETURNS OF INITIAL PUBLIC OFFERINGS (IPOS) IN TEHRAN STOCK EXCHANGE. FINANCIAL ACCOUNTING, 2(5), 94-119. SID. https://sid.ir/paper/168133/en

Vancouver: Copy

JABARZADEH KANGARLOUEI S., ASGARI MOHAMMAD REZA. THE IDENTIFICATION OF EFFECTIVE FACTORS ON ABNORMAL RETURNS OF INITIAL PUBLIC OFFERINGS (IPOS) IN TEHRAN STOCK EXCHANGE. FINANCIAL ACCOUNTING[Internet]. 2010;2(5):94-119. Available from: https://sid.ir/paper/168133/en

IEEE: Copy

S. JABARZADEH KANGARLOUEI, and MOHAMMAD REZA ASGARI, “THE IDENTIFICATION OF EFFECTIVE FACTORS ON ABNORMAL RETURNS OF INITIAL PUBLIC OFFERINGS (IPOS) IN TEHRAN STOCK EXCHANGE,” FINANCIAL ACCOUNTING, vol. 2, no. 5, pp. 94–119, 2010, [Online]. Available: https://sid.ir/paper/168133/en

Related Journal Papers