Institutional changes of SPACs

Milan Lakicevic, Yochanan Shachmurove and Milos Vulanovic

EconStor Preprints from ZBW - Leibniz Information Centre for Economics

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

Keywords: spac; Blank Checks (search for similar items in EconPapers)
Date: 2013-02-03
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Related works:
Journal Article: Institutional changes of Specified Purpose Acquisition Companies (SPACs) (2014)
Working Paper: On Mergers, Acquisitions and Liquidation Using Specified Purpose Acquisition Companies (SPACs) (2013)
Working Paper: Institutional changes of SPACs (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esprep:68589

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