In this study, we examine characteristics of Specified Purpose Acquisition Companies (SPACs) used as a financing tool for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse mergers focusing on China, SPACs that focus on China are...

Based on a review of international and regional responses to the global financial and economic crisis and its implications for finance in Asia, Douglas Arner and Lotte Schou-Zibell draw lessons for Asian financial systems with regard to the scope of regulation; financial standards; supervision,...

Die Anzahl an börsennotierten Unternehmen in Deutschland und weiteren Industrieländern wie dem Vereinigten Königreich und den USA nimmt seit mehreren Jahren ab. Es gibt deutlich mehr Börsenabgänge als Börsengänge. Zu diesem Trend tragen verschiedene Einflussfaktoren bei. Durch eine gute...

Prior studies suggest that companies which go public manage earnings in order to inflate the issue price. However, for PE funds the use of such activity can be costly in terms of the reputation capital as they are repetitive stock market players. The main aim of the study is to empirically...

The effects of private equity buyouts on employment, productivity, and job reallocation vary tremendously with macroeconomic and credit conditions, across private equity groups, and by type of buyout. We reach this conclusion by examining the most extensive database of U.S. buyouts ever...

This paper documents that the bond investments of insurance companies transmit shocks from insurance markets to the real economy. Liquidity windfalls from household insurance purchases increase insurers' demand for corporate bonds. Exploiting the fact that insurers persistently invest in a small...

This paper investigates short-term effects of big tech start-up acquisitions on innovation empirically. Innovation research has found a strong positive, causal relationship between VC investment and innovation. Using this insight, we can explore the repercussions of big tech start-up...

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...

We examine deal-level data on private equity transactions in the UK initiated during the period 1996 to 2004 by mature private equity houses. We un-lever the deal-level equity return and adjust for (un-levered) return to quoted peers to extract a measure of "alpha" or abnormal performance of the...

Changes in the financial market and attempts at implementation of prudential regulation proposals after the recent financial crisis resulted in the scientific conference entitled International Conference on Management, Banking and Finance, held at the Faculty of Management, University of Warsaw,...