TY - JOUR T1 - BORSA İSTANBUL’DA İŞLEM GÖRMEK ÜZERE 1993-2020 ARASINDA GERÇEKLEŞTİRİLEN İLK HALKA ARZLARIN UZUN DÖNEMLİ FİYAT PERFORMANSINI ETKİLEYEN FAKTÖRLERİN ANALİZİ TT - ANALYSIS OF THE FACTORS, AFFECTING THE LONG-TERM PRICE PERFORMANCE OF THE INITIAL PUBLIC OFFERINGS TO BE TRADED ON BORSA ISTANBUL BETWEEN 1993-2020 AU - Bakırhan, Cafer AU - Sayılgan, Güven PY - 2022 DA - September Y2 - 2022 DO - 10.29106/fesa.1135303 JF - Finans Ekonomi ve Sosyal Araştırmalar Dergisi JO - FESA PB - Ferudun KAYA WT - DergiPark SN - 2602-2486 SP - 442 EP - 461 VL - 7 IS - 3 LA - tr AB - Bu makale, 1993-2018 döneminde, 330 şirketin Borsa İstanbul’da işlem görmek üzere yapılan ilk halka arzlarının, uzun dönemli fiyat performanslarını etkileyen değişkenlerin analizini içermektedir. 1993-2018 döneminde ilk halka arzını gerçekleştirilmiş hisse senetlerinin uzun dönem (36 ay) fiyat performansları ve bu performansları etkilediği düşünülen açıklayıcı değişkenlerle oluşturulmuş regresyon modelleri incelenmiştir. Uzun dönem fiyat performansını etkileyen değişkenler ile oluşturulan regresyon modelleri, tabi tutulan muhtelif alt ayrımlar bazında, anlamlı sonuçlar vermiştir. İlk halka arzı yapılan hissenin ilk gün getirisi, uzun dönem endeks getirisi, aynı hissenin daha önceki dönemdeki getirileri, halka açılma oranı vb. açıklayıcı değişkenleri ilk halka arz hisse senetlerinin uzun dönem performansını açıklamakta anlamlıdır. KW - İlk Halka Arz KW - İstanbul Borsası KW - Uzun Dönem Fiyat Performansı KW - Regresyon Modelleri N2 - This article includes the analysis of the variables that affect the long-term price performances of the initial public offerings of 330 companies to be traded on Borsa Istanbul between 1993-2018. The long-term (36 months) price performances of the stocks that were offered to the public in the 1993-2018 period and the regression models created with the explanatory variables that are thought to affect these performances were examined. The regression models created with the variables affecting the long-term price performance gave significant results based on various sub-divisions. First day return, long-term index return, returns of the same stock in the previous period, public offering rate, etc. the explanatory variables are significant in explaining the long-term performance of initial public offering stocks. CR - ALWAREZ O.S. ve GONZALEZ V. “Analyze all the Spanish Initial Public Offerings (IPOs) during the period 1987-1997.” SSRN Electronic Journal, 2001, CR - AVCI B.S., “Long-Run Price and Operating Performance of Initial Public Offerings in Borsa Istanbul”, Business and Economics Research Journal, 12/2021 CR - BAKIRHAN C., “Birincil Hisse Senedi Halka Arzlarında Kısa ve Uzun Dönemli Fiyat Performansı ve Performans Belirleyicileri: (Borsa İstanbul 1993-2020)”, Doktora Tezi, AÜSBE, 2021 CR - BEATTY, R. P., ve RİTTER, J. 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