Who are the SPAC CEOs?
9 Pages Posted: 15 Mar 2021
Date Written: March 12, 2021
Our hand-collected sample of 298 U.S. SPACs reveals that the modal SPAC CEO is a 50-year-old male MBA graduate with substantial financial expertise. In accordance with signaling theory, greater reputation gained through prior CEO experience in public companies is linked to larger SPACs. As the IPO process continues, the CEO’s financial expertise becomes important in raising external capital.
Keywords: CEOs, Human capital, IPO, SPACs
JEL Classification: G24, G32, G34
Suggested Citation: Suggested Citation