Serial Entrepreneurs: Evidence from SPACs
Posted: 19 Feb 2020
Date Written: January 23, 2020
Abstract
This study examines whether the serial entrepreneurial experience of founders contributes to improved overall performance using a sample of Specified Purpose Acquisition Companies (SPACs) innovative firms that entered the U.S. financial markets since August 2003. Based on subsample analysis, evidence shows that previous experience has significant positive implications for the likelihood of the SPACs merger and consequently for value creation.
Keywords: Blank checks, Initial public offering, M&A, SPACs, Serial entrepreneur, Specified purpose acquisition companies
JEL Classification: G12, G14, G24, G30, G32, G34
Suggested Citation: Suggested Citation
Tereza Tykvova
University of St. Gallen - Swiss Institute of Banking and Finance ( email )
Rosenbergstrasse 52
St. Gallen, CH-9000
Switzerland
Swiss Finance Institute ( email )
c/o University of Geneva
40, Bd du Pont-d'Arve
CH-1211 Geneva 4
Switzerland