Purpose – This paper aims to study characteristics of specified purpose acquisition companies (SPACs) and examine the performance of their securities over time. Design/methodology/approach – Previous findings in literature on SPACs' performance around the announcement of merger date are...

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...