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Announcement effects of merger and acquisition transactions by special purpose acquisition companies (Spacs)
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“Announcement effects of merger and acquisition transactions by special purpose acquisition companies (SPACs)”Since the recent break-out year of special purpose acquisition company(SPAC)IPOs in 2020 and their accelerating speed in 2021, SPACs have gained a lot of attention in corporate finance. Given the current importance and publicity of SPACs, which are accountable for most IPOs of the general U.S. IPO market, the existing literature and empirical studies are limited. Therefore, this work project focuses on the announcement effects of merger and acquisition transactions by SPACs and evaluates their short-and medium-term performances via an event study. In addition, determinants accountable for their performances get tested in a multivariate regression analysis.
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Corporate governance Productivity Banking Wage formation Wage inequality Labor market Innovation Corporate finance Mergers and acquisitions Capital structure Ipos Leverage Corporate cash holdings Payout policy Household finance