This paper analyzes Special Purpose Acquisition Companies (SPACs) in Europe. We document various aspects associated with European SPACs by using a unique and hand-collected data sample encompassing all 19 SPACs which have been listed on European stock exchanges since 2005. The paper shows that...

Prior research has addressed the question of whether certain events cause a transfer of wealth between stockholders and bondholders but does not control for the events' impacts on firms' credit risk. This may explain why many studies fail to identify wealth transfers. By employing announcements...

This study looks at potential windfall profits for the four banking acquisitions in 2023. Based on accounting figures, an FT article states that a total of USD 44bn was left on the table. We see accounting figures as a misleading analysis. By estimating marked-based cumulative abnormal returns...