Investment Bank Reputation and the Post-IPO Operating Performance: The Case of the Istanbul Stock Exchange

In this study, the investment bank reputation role in the initial public offerings for the Istanbul Stock Exchange is analyzed. A comparison is made between the investment bank reputation and the post-issue operating performance in the analysis, contrary to the works which examine the relationship between the investment bank reputation and the post-issue investment performance. The postissue operating performances of the high-reputable investment banks-backed and the low-reputable investment banks-backed initial public offerings are compared for the investigation of investment bank reputation effect. The findings in this study do not supply any evidence showing that investment bank reputation has an influence on the post-issue operating performance.