Abstract
This paper examines Specified Purpose Acquisition Companies (SPACs) used as a financing tool for the shipping industry in the period 2004-2013. SPACs that focused on acquisitions in the shipping industry have statistically similar characteristics to the population of SPACs that entered U.S. financial markets. Additionally, shipping companies merge into SPACs for the benefits of acquiring a public listing and receiving the SPAC's cash. The paper constructs an original SPAC Shipping Index and compares its performance with benchmark indices. Under some conditions, managers of SPACs with a focus on shipping on average exhibit a return of $154 for every $1 invested.
| Original language | English |
|---|---|
| Pages (from-to) | 64-79 |
| Journal | Global Finance Journal |
| Volume | 26 |
| DOIs | |
| Publication status | Published - 1 May 2015 |
Research Keywords
- Baltic dry index
- Dow Jones transportation average index
- Maritime financial management
- Reverse mergers
- Specified purpose acquisition companies (SPACs)
Fingerprint
Dive into the research topics of 'Specified purpose acquisition companies in shipping'. Together they form a unique fingerprint.Cite this
- APA
- Author
- BIBTEX
- Harvard
- Standard
- RIS
- Vancouver