1 Department of Accounting Payame Noor University. IR. of Iran

2 Department of Accounting Payame Noor University. IR.of Iran

3 Department of Economic Payame Noor University. IR. of Iran


The purpose of this study is the investigation of variations in equity returns of shares holders and firm size on abnormal return created in IPO. For this case, the firms which entered to Tehran Stock Exchange from 1999 to 2011 were investigated by means of regression analysis. Therefore, 92 firms were selected randomly by removal method. The results show that there is a meaningful relationship between equity return of stock holders and abnormal return in IPO and there was no meaningful relationship between firm size and abnormal return in IPO.


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