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SPAC CEOs and capital raising outcomes

Author

Listed:
  • Magnus Blomkvist

    (Audencia Business School - Nantes)

  • Giacomo Nocera

    (Audencia Business School -Nantes)

  • Milos Vulanovic

    (EDHEC Business School)

Abstract

We study the CEO's role in the SPAC capital raising process, using a hand-collected sample of 298 U.S. SPACs. We find that experience gained through managing public companies is linked to 11% larger SPACs. As the IPO process continues, the CEO's financial expertise becomes important in raising external capital, resulting in a 13% increase of exercised overallotment options.

Suggested Citation

  • Magnus Blomkvist & Giacomo Nocera & Milos Vulanovic, 2022. "SPAC CEOs and capital raising outcomes," Economics Bulletin, AccessEcon, vol. 42(2), pages 729-739.
    • Handle: RePEc:ebl:ecbull:eb-21-00516
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    File URL: http://www.accessecon.com/Pubs/EB/2022/Volume42/EB-22-V42-I2-P61.pdf
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    More about this item

    Keywords

    CEOs; Human capital; IPO; SPACs;
    All these keywords.

    JEL classification:

    • G3 - Financial Economics - - Corporate Finance and Governance
    • G2 - Financial Economics - - Financial Institutions and Services

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