Preprint
SPACs with focus on China
In this study, we examine characteristics of Specified Purpose Acquisition Companies (SPACs) used as a financing tool for companies from China in period 2004-2011. We offer the evidence that, similarly to evidence from studies on reverse mergers focusing on China, SPACs that focus on China are not different in their characteristics from other SPACs. We test for the performance of the SPACs focused on China and show that their performance is not inferior to the performance of other SPACs. On the contrary, an investment in the equally weighted portfolio of SPACs with focus on China provides higher absolute return than an investment in the equally weighted portfolio of other SPACs. This evidence establishes that, on average, SPACs focused on China are as equally a valid investment choice as any other SPAC.
- Language
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Englisch
- Classification
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Wirtschaft
Asset Pricing; Trading Volume; Bond Interest Rates
Information and Market Efficiency; Event Studies; Insider Trading
Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies
Corporate Finance and Governance: General
Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
Mergers; Acquisitions; Restructuring; Voting; Proxy Contests; Corporate Governance
- Subject
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SPAC
Specified Purpose Acquisition Companies
China
Blank Checks
- Event
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Geistige Schöpfung
- (who)
-
Shachmurove, Yochanan
Vulanovic, Milos
- Event
-
Veröffentlichung
- (who)
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
- (where)
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Kiel und Hamburg
- (when)
-
2014
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Preprint
Associated
- Shachmurove, Yochanan
- Vulanovic, Milos
- ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
Time of origin
- 2014
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