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A Study on Determining the Factors Affecting the Number of Initial Public Offerings in Borsa İstanbul (Süleyman Demirel Üniversitesi Vizyoner Dergisi)

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Research paperSüleyman Demirel Üniversitesi Vizyoner DergisiAugust 202617 pages26 min readBekir KayaOriginal source
Key number
39.4 IPOs
Average annual IPOs (2021-2025) p.4
Largest segment
Manufacturing
Sector with highest IPO count p.5
What changed
TL 44,523,711,000
Average annual total IPO offer value p.4

Summary

  • Between 2013 and 2020, IPO activity on Borsa İstanbul averaged 5.9 IPOs and TL 1,268,213,000 in total offered market value annually [p.4].p.4
  • Annual IPO activity grew significantly during 2021 to 2025, reaching an average of 39.4 IPOs and TL 44,523,711,000 per year [p.4].p.4
  • The empirical study analyzes a 207-month period of monthly data ranging from October 2007 to December 2024 [p.2].p.2

Key insights

  1. Manufacturing represents the sector with the highest number of initial public offerings on Borsa İstanbul between 2013 and 2025 [p.5].p.5
  2. Information and communication along with real estate activities registered the lowest number of IPOs on Borsa İstanbul between 2013 and 2025 [p.5].p.5
  3. Domestic credit volume shows a statistically significant positive long-term relationship with the number of IPOs [p.12].p.12
  4. Model diagnostic tests show no issues with autocorrelation, heteroskedasticity, or structural instability [p.12].p.12

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