No, the shininess does not affect the IVs, or to put it another way, a shiny Pokemon can have any from a wide range of IVs, good or bad.
In generation 2, a shiny would have speed, defense, and special IVs of 10 and an attack IV of 2, 3, 6, 7, 10, 11, 14 or 15. In gen II IVs were only out of 15 so a shiny would always have a decent speed/defense/special IV, and could also have a good attack IV.
In generation 4 it's based on the trainer ID and Pokemon personality value. But the personality doesn't affect the Pokemon's stats, so a shiny Pokemon can have any IVs basically.