A Special Purpose Acquisition Company (SPAC) is a blank check company with no business operation but management quality. It raises money through unit IPO and put proceeds in a trust account for future business combination. In the post IPO market, the market price would reflect the value of trust...

Financial markets in emerging countries are volatile and imperfect, so pricing model under traditional perfect-market frameset may not give reliable price of financial derivatives. The most famous pricing model for stock index future is the cost of carry model. The mis-pricing of cost of carry...