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An empirical study on value drivers of the next generation of special purpose acquisition companies (spacs) in the United States
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Resumo(s)
SPACs are one of the most discussed investment opportunities of the last years. In the mean time, a lot has changed: Media coverage, public interest, regulation, and their reputation. In this Master Thesis the performance of the latest SPAC generation is analysed at the three most important stages: IPO, merger announcement and the short-term after announcement window. The results get compared with the literature in IPOs, M&A and private equity as well as current research about previous SPAC generations. The results show: Pre-merger and merger performance is positive while post-merger performance is better than expected
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Palavras-chave
Ipo Private equity Mergers and acquisitions Spac Special purpose acquisition company Underpricing