Investigating the Impact of IPOs on the BIST Technology (XUTEK) Index Using the Event Study Method
Investigating the Impact of IPOs on the BIST Technology (XUTEK) Index Using the Event Study Method
Author(s): Batuhan Medetoğlu, Arif SaldanlıSubject(s): Business Economy / Management, Financial Markets, Socio-Economic Research
Published by: Celal Bayar Üniversitesi Sosyal Bilimler Enstitüsü
Keywords: Public Offering; Equity Market; Event Study; BIST Technology Index;
Summary/Abstract: This study has been conducted to identify the impact of publicly offered companies in the BIST Technology sector on the index. The aim is to contribute to the development of more informed and effective strategies for investors in their future investment decisions. Focusing on 12 businesses that went public on the BIST Technology index in 2021 and 2022, their initial public offering (IPO) dates have been considered as event days. The relationship between index returns and these dates has been evaluated through an Event Study methodology. The analysis has revealed that, particularly in 2022, IPOs of businesses had a significant impact on index returns and the number of abnormal returns during this period was high. This finding helps to better understand the influence of IPO processes and developments in the technology sector on capital markets
Journal: Celal Bayar Üniversitesi Sosyal Bilimler Dergisi
- Issue Year: 21/2023
- Issue No: 04
- Page Range: 215-236
- Page Count: 22
- Language: English
