Evaluation of the Factors Affecting Initial Public offering Underpricing by Newly-accepted Companies into Tehran Stock Exchange
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2014, Vol 8, Issue 7
Abstract
Previous studies have reported three unusual features for initial public offering: underpricing (short-term return), variability of initial offerings from year to year, and negative long-term performance. The aim of the resent study was to examine the factors influencing the underpricing by newly-accepted companies into Tehran stock exchange. New resources are provided for the development of the company on arrival at the stock exchange, that’s why companies like to be traded in stock exchange. In this study, the relationship between the independent variables (age of company, type of industry, and type of ownership) and underpricing were analyzed to evaluate the factors affecting the underpricing of new shares. The statistical society included newly-accepted companies into Tehran stock exchange from 2004 to 2008. The findings indicated no significant relationship between the variables of the study and underpricing during the study period. This indicates that the activity of Tehran stock exchange is similar to that of other countries.
Authors and Affiliations
Mashaallah Randideh| Department of Accounting, Kermanshah Branch, Islamic Azad University, Kermanshah, Iran.
Keywords
Related Articles
- EP ID EP6658
- DOI -
- Views 285
- Downloads 11
Poetry of Borderline between Iraqi and Hindi Style
Before the advent of Hindi or Isfahni style, an intermediate style that is the borderline between Iraqi and Hindi style was created bearing the title “occurrence school”; therefore, at the same time as arrangements were...
The effect of asynchronous installation of composite support system on the convergence in non-circular tunnels
This study has been in moderately weathered tuffs and in hydrostatic stress conditions wherenon–circular tunnels have been excavated. In tunnel modeling, six radiuses of tunnels in 2, 3, 4, 5, 6, 7 meters analyzed using...
Presentation of Mathematical Model of Human Resource Allocation inOrganizations with Organizational Costs Reduction Orientation (Case Study: Finance and Economy Affairs Organization Ardakan Township)
Programming is one of the main principles in management. Programming is the base of procedural and managerial principle that organizations combine and incorporate all their activities and efforts about desired purposes,...
Complexity manufacturing systems in Iranian company: entropy model
The dimensions of manufacturing complexity are observable and measurable, and are strongly connected to information. The definition of manufacturing complexity provided in this paper is therefore geared towards using mea...
Design GSM-SMS based system for old structured greenhouses with monitoring and logging network sensors
Designing a new greenhouse is mostly aimed at reaching higher productivities. Currently, there are numerous greenhouses in Iran and other developing countries insufficiently equipped to control inside temperature, humidi...