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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
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SPACs : post-merger survival
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
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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/10010327773
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SPACs: Post-merger survival
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/10011567076
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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
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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...
Persistent link: https://www.econbiz.de/10011390741
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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
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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
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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
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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