2010-2013 IPO Initiative to Increase the Number of Companies in the Turkish Stock Exchange: An Unpleasant Experience

Alaattin Ecer, Sermaye Piyasası Kurulu

Abstract

In this study the performance of initial public offerings in Turkey before and after the recent Capital Markets Law that entered into force by the end of the year 2012 is taken into consideration. Also, the period of 2010 – 2012 IPO campaign, which starts with a protocol signed between Istanbul Chamber of Industry, Borsa Istanbul, Capital Markets Board of Turkey, The Union of Chambers and Commodity Exchanges of Turkey in order to increase the number of listed companies to 1,000 by the year 2023, are investigated. As one of the largest emerging markets which is under the spotlight of foreign investors, the examination of post-IPO performance in BIST is of key importance. The time frame of the study covers the period which starts with the opening of the stock exchange till present. The results indicate significant differences in IPO performances between these periods.

Short Bio

Dr. Alaattin Ecer had educated in Business Administration in Middle East Technical University and graduated with inclusion in the Honorary List. Dr. Alaattin Ecer had obtained an MBA from Bilkent University, an LL.M (in Finance) from Goethe University Frankfurt, and a Ph.D. from Ankara University (Accounting & Finance), and has conducted his Post-Doctoral studies at the London School of Economics and London Business School.
In 1999, he had started his professional career by working as an Assistant Expert at the Capital Markets Board (CMB) of Turkey-Turkish Prime Ministry. During the years 2003-2007, he continued working for the CMB as the Chairman’s Advisor, and then during 2008 he became the Deputy Director for the Research Department, and between the years 2008 to 2021 he has been working as the Director of the Research Department. During the years 2004-2005, Dr. Alaattin Ecer has worked in Frankfurt at the Deutsche Bank in derivatives & risk measurement, and then during the years 2007-2008, he has worked in London at BNP Paribas Hedge Funds Centre as a researcher. He is a member of International Organization of Securities Commissions’ Committee on Risk and Research.
Dr. Alaattin Ecer teaches at Bilkent University, Hacettepe University, TOBB Economics and Technology University and İstanbul Trade University in subjects such as Finance, Financial Accounting, Managerial Accounting, Engineering Economics, and Financial Institutions and Instruments. (IICEC).

Venue

Friday, April 2, 2021, 4.00 pm - Zoom Meeting