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  • DUYURU 3

    Yayın politikamız

    gereği, yayinlanacak

    makale sayısı

    sınırlandırılmış,

    olduğundan Aralık 

    2019 sayısı

    dolmuştur.


    DUYURU 2

    Dergimiz ana

    sayfasında

    "Dergi Hakkında"

    kısmında belirtilen

    alanlar dışında

    yayın kabul 

    etmeyecektir.

     


    DUYURU 1

    Dergimizin 2019

    yılında "TR INDEX"

    kapsamında olduğu

    ULAKBİM tarafından

    yayınlanmıştır.


Abstract


VALUATION OF FIRMS AT THE INITIAL PUBLIC OFFERING AND SUBSEQUENT PERIOD: A COMPARATIVE RESEARCH ON THE FIRMS OF BIST CITY INDEXES
One of the most important steps in the public offering process is to determine the firm value nearest to the right. Correctly identifying the firm value will increase the demand for potential investors' stocks and will affect the expected positive impact on the public offering. Various methods are used to determine the value of the company in the public offering process. In this study, it is aimed to specify firm value correctly in the public offering process by examining firm valuation approaches in detail. Moreover, by comparing the results obtained with the data in the BIST, it is aimed to try to determine which valuation approach gives the results close to the market value. For this purpose, 8 firms included in the BİST city indexes that were offered to the public after 31.12.2009 were analyzed. As a result, it is not possible to reach mutually supportive results in all appraisal approaches, in which firms' appraisal approaches show significant differences from each other, that it is more useful to determine firm value by using more than one method in order to determine closest appraisal value of the company and that public offering process increases or decreases company value.

Keywords
Company Valuation, Public Offering, Economic Value Added Method, Market Value Added Method, Discount


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