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SPACs: An overview and assessment of returns
In: The American journal of economics and sociology, Band 82, Heft 2, S. 129-139
ISSN: 1536-7150
AbstractSpecial purpose acquisition companies (SPACs) originated in the 1980s. A SPAC is a shell company formed by a sponsor to raise capital through a SPAC IPO to acquire or merge with an existing (target) private company. In a SPAC IPO, the units issued, consisting of (1) shares of common stock and (2) warrants, are typically priced at a nominal $10. Until 2022, SPAC IPOs were an increasingly popular alternative to traditional IPOs. We provide an overview of SPACs and an assessment of two measures of returns to SPACs, one is market‐adjusted buy and holds abnormal returns, and the other is risk‐adjusted abnormal returns by estimating a three‐factor regression model. The return calculations are based on 299 SPAC completed mergers between January 2013 and December 2021. Our results indicate that the main driver in a series of regressions, including various explanatory variables in explaining deSPAC returns, is the extent of warrants issued in a SPAC IPO, and robustness checks confirm these results.
Exploring the relationship between seasonal variations of land surface temperature and urban morphological factors in complex urban areas
In: Environmental science and pollution research: ESPR, Band 30, Heft 21, S. 59861-59876
ISSN: 1614-7499
The development of assistive product policies in China from the perspective of the assistive product industry
In: Disability and rehabilitation. Assistive technology : special issue, Band 18, Heft 8, S. 1266-1280
ISSN: 1748-3115
Silicon Carbide whiskers reinforced polymer-based adhesive for joining C/C composites
In: Materials and design, Band 99, S. 293-302
ISSN: 1873-4197
Fabrication of heat-resistant syntactic foams through binding hollow glass microspheres with phosphate adhesive
In: Materials and design, Band 95, S. 32-38
ISSN: 1873-4197
MoSi2-borosilicate glass coating on fibrous ceramics prepared by in-situ reaction method for infrared radiation
In: Materials and design, Band 103, S. 144-151
ISSN: 1873-4197
Effect of temperature on the mechanical behavior of mullite fibrous ceramics with a 3D skeleton structure prepared by molding method
In: Materials and design, Band 90, S. 942-948
ISSN: 1873-4197
A user-friendly heat-resistant modified polymer-based adhesive for joining and repair of carbon/carbon composites
In: Materials and design, Band 86, S. 709-713
ISSN: 1873-4197