Foreign versus domestic SPACs in the US Market-Reference-Cited by-同舟云学术

Foreign versus domestic SPACs in the US Market

Published:2024-07-26 Issue: Volume: Page:
ISSN:1354-7798
Container-title:European Financial Management
language:en
Short-container-title:Euro Fin Management

Author:

Chiang Yao‐Min¹,Park Bokyung¹^ORCID,Rhee S. Ghon²,Tsai Hui‐Ju³

Affiliation:

1. Department of Finance, College of Management National Taiwan University Taipei City Taiwan

2. Department of Finance, Shidler College of Business University of Hawaii at Manoa Honolulu Hawaii USA

3. Department of Business Management Washington College Chestertown Maryland USA

Abstract

AbstractThis study compares domestic and foreign special purpose acquisition companies (SPACs) listed in the US market. Compared with domestic SPACs, we find that foreign SPACs raise lower proceeds from initial public offerings and private investments in public equity funding. Additionally, redemption rates of foreign SPACs are higher than those of domestic SPACs. Our findings suggest that foreign SPACs face a competitive disadvantage due to their limited networks in the US market.

Publisher

Wiley

Link

https://onlinelibrary.wiley.com/doi/pdf/10.1111/eufm.12511

Reference17 articles.

1. Adami R. Mathew S.&Sivaprasad S.(2022).Global SPACs(SSRN Working Paper).https://ssrn.com/abstract=4166169

2. A Hard Look at SPAC Projections

3. Chiang Y. Kim W. Park B. &Yoon T.(2024). De‐SPAC Performance Under Better Aligned Sponsor Contracts (European Corporate Governance Institute – Finance Working Paper No. 962/2024).https://ssrn.com/abstract=4738044

4. Perverse incentives of special purpose acquisition companies, the “poor man's private equity funds”

5. Emm E. Han B. &Li B.(2024).Cross‐border acquisitions: The case of SPACs. Pacific‐Basin Finance Journal 85 102396.https://ssrn.com/abstract=4675952