HALKA ARZDA ARACI KURULUŞ İTİBARININ ETKİSİ 2 : KURAMSAL DEĞERLENDİRME

Year 2019, Volume: 21 Issue: 3, 778 - 808, 30.09.2019

Güray Küçükkocaoğlu , Nimet Çakır , Hakan Kapucu

https://doi.org/10.31460/mbdd.552092

Cited By: 1

Abstract

Halka arz süreci, üç ana
aktörün aktif olarak katılmasını gerektirir. Bu aktörler; ihraççı şirket, aracı
kuruluş ve yatırımcılardır. Aracı kuruluşlar, ihraççı şirket ile yatırımcılar arasında aracı olarak
hareket ederler ve halka arzın başarısında önemli bir rol oynarlar. Bu çalışma, Çakır ve Küçükkocaoğlu (2018) çalışmasında yer alan tespitlerin
kuramsal geri planının seçilmiş ülke örneklerini içerecek şekilde
genişletilmesini ve halka arzlardaki dönemselliğin aracı kurum itibarlarındaki
değişime etkisini araştırmaktadır. Kuramsal değerlendirme iki ana bölümden
oluşmaktadır. Birinci bölümde, halka arzın kısa ve uzun dönem performansında
aracı kuruluş itibarının rolünü araştıran çalışmalara dair bir literatür
değerlendirmesi yapılarak konuyla ilgili araştırmalar hakkında özlü bilgi
verilmektedir. İkinci bölümde ise Borsa İstanbul’da 1993-2017 yılları arasında farklı
dönemlerde gerçekleşen halka arzların performanslarında aracı kuruluş
itibarının etkisi incelenmiştir. 

Keywords

Aracı Kuruluş İtibarı, Halka Arz Performansı

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