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Vulanovic, Milos - 2016

This paper studies how institutional characteristics of Specified Purpose Acquisition Companies (SPACs) are related to … their post-merger survival. SPACs are unique financial firms that conduct the IPO with the solely purpose to use the … proceeds to acquire another private company. Paper finds that institutional characteristics of SPACs are important in …

Persistent link: https://www.econbiz.de/10011567362

SPACs in shipping

Shachmurove, Yochanan; Vulanovic, Milos - 2013

In this study we examine how Specified Purpose Acquisition Companies (SPACs) were used as a financing tool for … companies in the shipping industry in period 2004-2011. We confirm that SPACs focused on acquisitions in the shipping industry … have similar characteristics as the population of SPACs that entered U.S financial markets in the same period. When their …

Persistent link: https://www.econbiz.de/10010225447

SPAC IPOs

Shachmurove, Yochanan; Vulanovic, Milos - 2018

Specified Purpose Acquisition Companies (SPACs) are a special type of public companies currently available to investors … in financial markets. As an investment vehicle, modern SPACs are traced back to 18-th century England where blank checks … Commission classifies SPAC as a blank check company. This chapter reviews the academic and financial literatures about SPACs …

Persistent link: https://www.econbiz.de/10011844106

SPACs with focus on China

Shachmurove, Yochanan; Vulanovic, Milos - 2014 - Preprint, February 8th, 2014

In this study, we examine characteristics of Specified Purpose Acquisition Companies (SPACs) used as a financing tool … mergers focusing on China, SPACs that focus on China are not different in their characteristics from other SPACs. We test for … the performance of the SPACs focused on China and show that their performance is not inferior to the performance of other …

Persistent link: https://www.econbiz.de/10010372686

Underpricing of venture-backed and non venture-backed IPOs : Germany's Neuer Markt

Franzke, Stefanie A. - 2003 - This version: November 6, 2003

This paper analyzes a comprehensive data set of 160 non venture-backed, 79 venture-backed and 61 bridge financed companies going public at Germany´s Neuer Markt between March 1997 and March 2002. I examine whether these three types of issues differ with regard to issuer characteristics, balance...

Persistent link: https://www.econbiz.de/10009767675

Product Market Characteristics and the Choice between IPOs and Acquisitions

Chemmanur, Thomas J. - 2018

Using unique U.S. Census data sets, we analyze how entrepreneurial firms' product market characteristics affect their choice between going public, being acquired, or remaining private. Size, total factor productivity (TFP), sales growth, capital expenditure, market share, access to private...

Persistent link: https://www.econbiz.de/10012940674

Reducing asymmetric information in venture capital backed IPOs

Escobari, Diego; Serrano, Alejandro - 2015

Purpose - The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). Our mixtures approach endogenously separates IPOs into differentiated groups based on their returns' determinants. We also analyze...

Persistent link: https://www.econbiz.de/10011402382

Is the behavior of German venture capitalists different? : evidence from the Neuer Mark

Tykvová, Tereza - 2003

Using a unique, hand-collected database of all venture-backed firms listed on Germany's Neuer Markt, we analyze the history of venture capital financing of these firms before the IPO and the behavior of venture capitalists at the IPO. We can detect significant differences in the behavior and...

Persistent link: https://www.econbiz.de/10009765361

Private matters

Helwege, Jean; Packer, Frank - In: Journal of financial intermediation 18 (2009) 3, pp. 362-383

Persistent link: https://www.econbiz.de/10003878942

Bubbles and incentives : a post-mortem of the Neuer Markt in Germany

Kalckreuth, Ulf von; Silbermann, Leonid - 2010

This paper aims to shed light on some of the major allocative consequences of financial market bubbles. In March 1997, the Neuer Markt in Germany opened. Six years later, in June 2003, it closed forever. In the interim period lay the spectacular rise and fall of the first and most important...

Persistent link: https://www.econbiz.de/10008653397

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