Showing 1 - 10 of 18
We document the changes of corporate design of modern Specified Purpose Acquisition Companies (SPACs) from 2003 to 2012. We assign the impact on changes of SPACs to each of the three groups of stakeholders: founders, investors and underwriters and test whether institutional characteristics of...
Persistent link: https://www.econbiz.de/10011114458
We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders, underwriters, and investors are interdependent and...
Persistent link: https://www.econbiz.de/10010310645
We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders, underwriters, and investors are interdependent and...
Persistent link: https://www.econbiz.de/10011108459
We study characteristics of Specified Purpose Acquisition Companies (SPACs) and examine the performance of their securities over time. We find that SPACs represent a fairly unique way to raise capital. The incentives of their founders, underwriters, and investors are interdependent and...
Persistent link: https://www.econbiz.de/10010957821
Persistent link: https://www.econbiz.de/10013187953
Although the national media has given increased attention to the venture capital process, misconceptions continue to proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors demand very high rates of return to compensate for...
Persistent link: https://www.econbiz.de/10011310374
This paper investigates the actual performance of 2,895 Initial Public Offerings of companies that were backed by venture capital from 1968 through 1998. It seeks to refute the myth that investors demand very high annualized and cumulative rates of return to compensate for the risks they are...
Persistent link: https://www.econbiz.de/10010765309
This paper studies venture capital investment activity in the United States stratified by both locations and industries. Is geographical location an important factor to venture capital investment? Is industry classification important in explaining the amount of dollars invested in venture...
Persistent link: https://www.econbiz.de/10010765318
This paper investigates the actual performance of 2,678 Initial Public Offerings (IPOs) of companies that were backed by venture capital from 1969 to 2002. The main purpose is to compare the annual returns of the venture capital industry during the 1980s and 1990s. Comparisons between the...
Persistent link: https://www.econbiz.de/10010765323
Although the national media has given increased attention to the venture capital process, misconceptions continue to proliferate. One often hears about the incredible capital gains of IPO share prices. This paper refutes the myth that investors demand very high rates of return to compensate for...
Persistent link: https://www.econbiz.de/10010790657