• Overpricing (and underpricing) in IPOs : a model of excess initial returns 

      Leite, Tore (Discussion paper, Working paper, 2000-12)
      This paper develops a model in which new issues, in equilibrium, may be overpriced or underpriced, depending on parameter values. The ability of an investor to withdraw from the offering upon observing unfavorable information ...
    • Public information and IPO underpricing 

      Bakke, Einar; Leite, Tore; Thorburn, Karin S. (Discussion paper, Working paper, 2010-08)
      We analyze the effect of public information on rational investors' incentives to reveal private information during the bookbuilding process and their demand for allocations in the IPO. Our model generates several new ...