Paper Title
The Profits Of Companies After Initial Public Offering: Evidence From Turkey

Abstract
The purpose of this study is to research whether the operation results of non-financial companies offered to public in 2005-2012 periods and trading in Borsa Istanbul (BIST) are different before and after initial public offering (IPO) and some features about IPO have effects on these differences or not. In the study, data from IPO prospectuses and financial statements of 31 companies were analyzed. According to analysis results, it was seen that return on assets (ROA), return on equity (ROE) and net sale returns of the companies significantly decreased in post IPO period and some features about IPO had also an effect on return rates. Findings of this study have some implications to investors, academicians and policy makers. Key Words- Initial Public Offering (IPO), Profit, Stock Exchange, Investor Rights.