Oktay Yamrali - Department of Accounting Payame Noor University. IR. of Iran
Mohammad Reza Aboujafari - Department of Accounting Payame Noor University. IR.of Iran
Ali Aliyani Nezhad - Department of Accounting Payame Noor University. IR. of Iran
Somayeh Ghochzadeh - 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 ۱۹۹۹ to ۲۰۱۱ were investigated by means of regression analysis. Therefore, ۹۲ 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.

Return on Equity, Firm Size, Abnormal Returns