Browsing Working papers (FIN) by Author "Leite, Tore E."
Now showing items 1-1 of 1
-
Partial Adjustment to Public Information in the Pricing of IPOs
Bakke, Einar; Leite, Tore E.; Thorburn, Karin S. (Working paper, 2016-01)Extant literature shows that IPO first-day returns are correlated with market returns preceding the issue. We propose a new explanation for this puzzling predictability by adding a public signal to Benveniste and Spindt ...