The Accuracy of Sales Forecasts Disclosed in the IPO Prospectuses: Evidence From Istanbul Stock Exchange
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Krigman, Laurie & Shaw, Wayne H. & Womack, Kent L., 2001. "Why do firms switch underwriters?," Journal of Financial Economics, Elsevier, vol. 60(2-3), pages 245-284, May.
- Chan, Kalok & Wang, Junbo & Wei, K. C. John, 2004. "Underpricing and long-term performance of IPOs in China," Journal of Corporate Finance, Elsevier, vol. 10(3), pages 409-430, June.
- Francois Degeorge & Francois Derrien & Kent L. Womack, 2007.
"Analyst Hype in IPOs: Explaining the Popularity of Bookbuilding,"
The Review of Financial Studies, Society for Financial Studies, vol. 20(4), pages 1021-1058.
- François Derrien & François Degeorge & K. Womack, 2007. "Analyst Hype in IPOs: Explaining the Popularity of Bookbuilding," Post-Print hal-00480839, HAL.
- Jay R. Ritter, 2003. "Differences between European and American IPO Markets," European Financial Management, European Financial Management Association, vol. 9(4), pages 421-434, December.
- Benveniste, Lawrence M. & Spindt, Paul A., 1989. "How investment bankers determine the offer price and allocation of new issues," Journal of Financial Economics, Elsevier, vol. 24(2), pages 343-361.
- François Degeorge & François Derrien & Kent L. Womack, 2004.
"Quid Pro Quo in IPOs: Why Book-building is Dominating Auctions,"
Working Papers
2004.150, Fondazione Eni Enrico Mattei.
- Degeorge, François & Derrien, Francois & Womack, Kent L, 2004. "Quid Pro Quo in IPOs: Why Book-Building is Dominating Auctions," CEPR Discussion Papers 4462, C.E.P.R. Discussion Papers.
- Sherman, Ann E, 2000. "IPOs and Long-Term Relationships: An Advantage of Book Building," The Review of Financial Studies, Society for Financial Studies, vol. 13(3), pages 697-714.
- Ibbotson, Roger G., 1975. "Price performance of common stock new issues," Journal of Financial Economics, Elsevier, vol. 2(3), pages 235-272, September.
- Reena Aggarwal, 2000. "Stabilization Activities by Underwriters after Initial Public Offerings," Journal of Finance, American Finance Association, vol. 55(3), pages 1075-1103, June.
- Rajan, Raghuram & Servaes, Henri, 1997. "Analyst Following of Initial Public Offerings," Journal of Finance, American Finance Association, vol. 52(2), pages 507-529, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Li Chen & David Hay & Jingyuan Zhuang, 2020. "Initial public offering prospectus forecast errors and mandatory explanations: evidence from New Zealand," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(3), pages 2167-2202, September.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Erkin Uzun, 2009. "Aftermarket Performances of Book Building and Fixed Price Offerings on the Istanbul stock Exchange," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 11(43), pages 53-80.
- Bekir Elmas & M.Sinan Temurlenk, 2009. "Granger Causality Between Stock Price and Trading Volume: A Stock-Based Analysis in the ISE," Istanbul Stock Exchange Review, Research and Business Development Department, Borsa Istanbul, vol. 11(43), pages 1-16.
- repec:bor:iserev:v:11:y:2011:i:43:p:53-80 is not listed on IDEAS
- repec:bor:iserev:v:11:y:2011:i:43:p:17-52 is not listed on IDEAS
- repec:bor:iserev:v:11:y:2011:i:43:p:1-16 is not listed on IDEAS
- Jay R. Ritter & Ivo Welch, 2002.
"A Review of IPO Activity, Pricing, and Allocations,"
Journal of Finance, American Finance Association, vol. 57(4), pages 1795-1828, August.
- Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing and Allocations," Yale School of Management Working Papers ysm258, Yale School of Management, revised 01 Apr 2002.
- Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing, and Allocations," NBER Working Papers 8805, National Bureau of Economic Research, Inc.
- Jay Ritter & Ivo Welch, 2002. "A Review of IPO Activity, Pricing and Allocations," Yale School of Management Working Papers ysm258, Yale School of Management, revised 01 Apr 2002.
- Oehler, Andreas & Rummer, Marco & Smith, Peter N., 2004.
"IPO Pricing and the Relative Importance of Investor Sentiment: Evidence from Germany,"
Discussion Papers
26, University of Bamberg, Chair of Finance.
- Marco Rummer & Andreas Oehler & Peter N. Smith, 2004. "IPO Pricing and the Relative Importance of Investor Sentiment: Evidence from Germany," Money Macro and Finance (MMF) Research Group Conference 2004 62, Money Macro and Finance Research Group.
- Guray Kucukkocaoglu & Ozge Sezgin Alp, 2012. "IPO mechanism selection by using Classification and Regression Trees," Quality & Quantity: International Journal of Methodology, Springer, vol. 46(3), pages 873-888, April.
- Jones, Steven L. & Yeoman, John C., 2014. "Initial uncertainty and the risk of setting a fixed-offer price: Implications for the pricing of bookbuilt and best-efforts IPOs," Journal of Corporate Finance, Elsevier, vol. 27(C), pages 194-215.
- Lehmann, Timo & Weber, Matthias, 2021. "IPO Underpricing and Aftermarket Price Accuracy: Auctions vs. Bookbuilding in Japan," SocArXiv sa385, Center for Open Science.
- Hahl, Teemu & Vähämaa, Sami & Äijö, Janne, 2014. "Value versus growth in IPOs: New evidence from Finland," Research in International Business and Finance, Elsevier, vol. 31(C), pages 17-31.
- Cook, Douglas O. & Kieschnick, Robert & Van Ness, Robert A., 2006. "On the marketing of IPOs," Journal of Financial Economics, Elsevier, vol. 82(1), pages 35-61, October.
- Neupane, Suman & Marshall, Andrew & Paudyal, Krishna & Thapa, Chandra, 2017. "Do investors flip less in bookbuilding than in auction IPOs?," Journal of Corporate Finance, Elsevier, vol. 47(C), pages 253-268.
- Chen Su, 2018. "The efficiency of IPO issuing mechanisms and market conditions: evidence in China," Review of Quantitative Finance and Accounting, Springer, vol. 51(2), pages 461-495, August.
- Francois Degeorge & Francois Derrien & Kent L. Womack, 2007.
"Analyst Hype in IPOs: Explaining the Popularity of Bookbuilding,"
The Review of Financial Studies, Society for Financial Studies, vol. 20(4), pages 1021-1058.
- François Derrien & François Degeorge & K. Womack, 2007. "Analyst Hype in IPOs: Explaining the Popularity of Bookbuilding," Post-Print hal-00480839, HAL.
- Feng, Xunan & Johansson, Anders C. & Wei, Dengxi, 2023.
"Judging a book by its cover: Analysts and attention-driven price patterns in China's IPO market,"
Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
- Feng, Xunan & Johansson, Anders C., 2016. "Judging a Book by Its Cover: Analysts and Attention-Driven Price Patterns in China’s IPO Market," Stockholm School of Economics Asia Working Paper Series 2016-39, Stockholm School of Economics, Stockholm China Economic Research Institute.
- He, Jingbin & Ma, Xinru & Liao, Jingchi, 2021. "Preference for bid time in hybrid auctioned IPOs: Evidence from China," The North American Journal of Economics and Finance, Elsevier, vol. 57(C).
- Sascha Füllbrunn & Tibor Neugebauer & Andreas Nicklisch, 2020.
"Underpricing of initial public offerings in experimental asset markets,"
Experimental Economics, Springer;Economic Science Association, vol. 23(4), pages 1002-1029, December.
- Füllbrunn, Sascha & Neugebauer, Tibor & Nicklisch, Andreas, 2014. "Underpricing of Initial Public Offerings in Experimental Asset Markets," WiSo-HH Working Paper Series 19, University of Hamburg, Faculty of Business, Economics and Social Sciences, WISO Research Laboratory.
- Jeon, Jin Q. & Lee, Cheolwoo & Nasser, Tareque & Via, M. Tony, 2015. "Multiple lead underwriter IPOs and firm visibility," Journal of Corporate Finance, Elsevier, vol. 32(C), pages 128-149.
- Re‐Jin Guo & Baruch Lev & Charles Shi, 2006. "Explaining the Short‐ and Long‐Term IPO Anomalies in the US by R&D," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 33(3‐4), pages 550-579, April.
- Romain Boissin & Patrick Sentis, 2014.
"Long-run performance of IPOs and the role of financial analysts: some French evidence,"
The European Journal of Finance, Taylor & Francis Journals, vol. 20(2), pages 125-149, February.
- Boissin, Romain & Sentis, Patrick, 2010. "Long run performance of IPOs and the role of financial analysts: some French evidence," MPRA Paper 29568, University Library of Munich, Germany.
- Boissin, Romain & Sentis, Patrick, 2012. "Long-run performance of IPOs and the role of financial analysts: some French evidence," MPRA Paper 41551, University Library of Munich, Germany.
- Cristián Celis & Gustavo Maturana, 1998. "Initial Public Offerings In Chile," Abante, Escuela de Administracion. Pontificia Universidad Católica de Chile., vol. 1(1), pages 7-31.
- Pons-Sanz, Vicente, 2005. "Who benefits from IPO underpricing? Evidence form hybrid bookbuilding offerings," Working Paper Series 428, European Central Bank.
More about this item
Keywords
Anahtar kelimeler: Forecasting accuracy; Determinants of forecasting accuracy; IPOs; Istanbul Stock Exchange;All these keywords.
JEL classification:
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bor:iserev:v:11:y:2009:i:43:p:17-52. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ahmet Palu (email available below). General contact details of provider: https://edirc.repec.org/data/rdisetr.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.