Logo
Munich Personal RePEc Archive

Institutional changes of SPACs

Lakicevic, Milan and Shachmurove, Yochanan and Vulanovic, Milos (2013): Institutional changes of SPACs.

[thumbnail of MPRA_paper_44181.pdf]
Preview
PDF
MPRA_paper_44181.pdf

Download (739kB) | Preview

Abstract

We document the changes of corporate design of modern Specified Purpose Acquisition Companies (SPACs) from 2003 to 2012. We assign the impact on changes of SPACs to each of the three groups of stakeholders: founders, investors and underwriters and test whether institutional characteristics of SPACs determine the success of their merger outcomes. We document that SPACs significantly redesigned its structure in the period under observation. Additionally, the probability of the merger for SPACs is increasing if they are able to; announce the deal soon after the IPO, focus that deal on China and have their IPO underwritten by EarlyBirdCapital

Atom RSS 1.0 RSS 2.0

Contact us: mpra@ub.uni-muenchen.de

This repository has been built using EPrints software.

MPRA is a RePEc service hosted by Logo of the University Library LMU Munich.