Who are the SPAC CEOs?

9 Pages Posted: 15 Mar 2021

See all articles by Magnus Blomkvist

Magnus Blomkvist

Audencia Business School; Audencia Business School

Giacomo Nocera

Audencia Business School

Milos Vulanovic

EDHEC Business School

Date Written: March 12, 2021

Abstract

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

Blomkvist, Magnus and Nocera, Giacomo and Vulanovic, Milos, Who are the SPAC CEOs? (March 12, 2021). Available at SSRN: https://ssrn.com/abstract=3803665 or http://dx.doi.org/10.2139/ssrn.3803665

Magnus Blomkvist

Audencia Business School ( email )

8 Road Joneliere
BP 31222
Nantes Cedex 3, 44312
France

Audencia Business School ( email )

8 Road Joneliere
BP 31222
Nantes Cedex 3, 44312
France

Giacomo Nocera

Audencia Business School ( email )

8 route de la Jonelière, BP 31222
Nantes Cedex 3, Cedex 3 44312
France

Milos Vulanovic (Contact Author)

EDHEC Business School ( email )

24, avenue Gustave Delory
CS 50411
Roubaix, 59057
France

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