Between Private Equity, Risk-free Investment, and Traditional Stocks, What Have We Learned from SPACs, and Who Are They Best For? Literature review on the growing SPAC phenomenon / Thomas ETIENNE / 2021

Titre : Between Private Equity, Risk-free Investment, and Traditional Stocks, What Have We Learned from SPACs, and Who Are They Best For? Literature review on the growing SPAC phenomenon Type de document : Mémoire Auteurs : Thomas ETIENNE, Auteur Année de publication : 2021 Importance : 29 p. Note générale : Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec votre compte Office 365 via le bouton CONNEXION en haut de page. Langues : Anglais (eng) Mots-clés : Management ACTION ; CAPITAL INVESTISSEMENT ; RISQUE Résumé : Between Private Equity, Risk-free Investment, and Traditional Stocks, What Have We Learned from SPACs and Who Are They Best For? Special Purpose Acquisition Companies (SPACs) have been around for years. They have known different phases and faced different market conditions. SPACs, often r eferred to as “blank check companies”, “development stage companies”, “or “shell companies” (V. M. Jog & Sun, 2007) are founded by one or several skilled managers who have acquired a positive reputation with investors. With a life span of two years, SPACs raise money through an IPO and then are given eighteen months to identify a private com pany and complete an acquisition, thereby taking it public. Known as an alternative and cheaper way to go public, SPACs IPOs have recently surged dramatically. The recent and sudden gain in popularity of SPACs has raised questions about the sustainability of the phenomenon. Are SPACs’ risks underestimated? Who benefits from these IPOs? What type of investors has been investing in SPACs? Are shell companies appropriately regulated? Is it a local or worldwide phenomenon? These are some of the questions that one could ask when considering these trendy companies. Although these investment vehicles have existed for decades, the literature on the subject is rather scarce. In this literature review, we will identify what research has been conducted on SPACs, what we know so far about them, and attempt to identify new horizons and questions that remain unanswered to date. Programme : MSc Finance, Investment & Wealth Management Permalink : https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=538605