SPAC CEOs and capital raising outcomes

Magnus Blomkvist (), Giacomo Nocera () and Milos Vulanovic
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Magnus Blomkvist: Audencia Business School - Nantes
Giacomo Nocera: Audencia Business School -Nantes

Economics Bulletin, 2022, vol. 42, issue 2, 729 - 739

Abstract: We study the CEO's role in the SPAC capital raising process, using a hand-collected sample of 298 U.S. SPACs. We find that experience gained through managing public companies is linked to 11% larger SPACs. As the IPO process continues, the CEO's financial expertise becomes important in raising external capital, resulting in a 13% increase of exercised overallotment options.

Keywords: CEOs; Human capital; IPO; SPACs (search for similar items in EconPapers)
JEL-codes: G2 G3 (search for similar items in EconPapers)
Date: 2022-06-30
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Related works:
Working Paper: SPAC CEOs and Capital Raising Outcomes (2022)
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