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This research is an attempt to determine the effectiveness of the regulatory requirements governing the issuance of new securities imposed by the Iranian Stock Exchange (Exchange). In particular, this study seeks to ascertain the level of compliance with the mandate of the "Exchange" and its impact thereof. on the newly issued stock. The population of the study was the 1isted compaines in the Iranian Stock Exchange. The result of the study provides evidence suppoting the claim that the "ceiling" established by the mand