This study has investigated the IPOs’ long-term performance, in Tehran Stock Exchange. The purpose of this study was to examining if IPOs underperform in long-term. Furthermore, this study has investigated the effects of some features of IPO firms on IPOs’ long-term performance (e.g. size and profitability of the firm before the IPOs, ownership structure and IPOs' short-term returns ). The sample included 143 IPOs in Tehran Stock Exchange from 1376 to 1386. The results show that IPOs in Tehran Stock Exchange under-performs in long-run. There is a negative and significant relationship between size and the profitability of the firms before the IPO and IPOs' long-run performance. State-ownership and structure of ownership have no effects on long-term performance. Finally, there is no relationship between short-term return and long-term performance of IPOs.
Alavi Tabari,S , Rahmani,A and Maki,S . (2008). The Performance of IPO in Iran: Empirical Test of Some Related Factors. Empirical Studies in Financial Accounting, 6(22), 73-96.
MLA
Alavi Tabari,S , , Rahmani,A , and Maki,S . "The Performance of IPO in Iran: Empirical Test of Some Related Factors", Empirical Studies in Financial Accounting, 6, 22, 2008, 73-96.
HARVARD
Alavi Tabari S, Rahmani A, Maki S. (2008). 'The Performance of IPO in Iran: Empirical Test of Some Related Factors', Empirical Studies in Financial Accounting, 6(22), pp. 73-96.
CHICAGO
S Alavi Tabari, A Rahmani and S Maki, "The Performance of IPO in Iran: Empirical Test of Some Related Factors," Empirical Studies in Financial Accounting, 6 22 (2008): 73-96,
VANCOUVER
Alavi Tabari S, Rahmani A, Maki S. The Performance of IPO in Iran: Empirical Test of Some Related Factors. Empirical Studies in Financial Accounting. 2008;6(22):73-96 (In Persian).
