Special purpose acquisition companies in the Italian market

Detalhes bibliográficos
Autor(a) principal: Morini, Elia
Data de Publicação: 2021
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/122671
Resumo: This work project illustrates the characteristics of Special Purpose Acquisition Companies and focuses specifically on the Italian Market. SPACs’ performance is analysed using an even study framework and classifying the companies either in Good SPAC sor Bad SPACs depending on market prices before the vote on the acquisitions. Raw and risk adjusted returns are computed and I find evidence for underperformance of this asset class, with the Bad SPAC ssub-sample performing significantly worse than the Good SPACs. The potential reasons behind the approval of ex-ante value destroying acquisitions are briefly mentioned.
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spelling Special purpose acquisition companies in the Italian marketSpacIpoListing methodsSpecial purpose acquisition companiesDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis work project illustrates the characteristics of Special Purpose Acquisition Companies and focuses specifically on the Italian Market. SPACs’ performance is analysed using an even study framework and classifying the companies either in Good SPAC sor Bad SPACs depending on market prices before the vote on the acquisitions. Raw and risk adjusted returns are computed and I find evidence for underperformance of this asset class, with the Bad SPAC ssub-sample performing significantly worse than the Good SPACs. The potential reasons behind the approval of ex-ante value destroying acquisitions are briefly mentioned.Demirci, IremRUNMorini, Elia2021-08-18T09:57:42Z2021-01-132021-01-132021-01-13T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfhttp://hdl.handle.net/10362/122671TID:202740170enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T05:04:13Zoai:run.unl.pt:10362/122671Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:44:49.323903Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Special purpose acquisition companies in the Italian market
title Special purpose acquisition companies in the Italian market
spellingShingle Special purpose acquisition companies in the Italian market
Morini, Elia
Spac
Ipo
Listing methods
Special purpose acquisition companies
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Special purpose acquisition companies in the Italian market
title_full Special purpose acquisition companies in the Italian market
title_fullStr Special purpose acquisition companies in the Italian market
title_full_unstemmed Special purpose acquisition companies in the Italian market
title_sort Special purpose acquisition companies in the Italian market
author Morini, Elia
author_facet Morini, Elia
author_role author
dc.contributor.none.fl_str_mv Demirci, Irem
RUN
dc.contributor.author.fl_str_mv Morini, Elia
dc.subject.por.fl_str_mv Spac
Ipo
Listing methods
Special purpose acquisition companies
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Spac
Ipo
Listing methods
Special purpose acquisition companies
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This work project illustrates the characteristics of Special Purpose Acquisition Companies and focuses specifically on the Italian Market. SPACs’ performance is analysed using an even study framework and classifying the companies either in Good SPAC sor Bad SPACs depending on market prices before the vote on the acquisitions. Raw and risk adjusted returns are computed and I find evidence for underperformance of this asset class, with the Bad SPAC ssub-sample performing significantly worse than the Good SPACs. The potential reasons behind the approval of ex-ante value destroying acquisitions are briefly mentioned.
publishDate 2021
dc.date.none.fl_str_mv 2021-08-18T09:57:42Z
2021-01-13
2021-01-13
2021-01-13T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/122671
TID:202740170
url http://hdl.handle.net/10362/122671
identifier_str_mv TID:202740170
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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