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Learning From the Market : = The Choice Between IPOs and SPAC Mergers.

Record Type:	Language materials, manuscript : Monograph/item
Title/Author:	Learning From the Market :/
Reminder of title:	The Choice Between IPOs and SPAC Mergers.
Author:	Yao, Yuchi.
Description:	1 online resource (74 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 86-01, Section: A.
Contained By:	Dissertations Abstracts International86-01A.
Subject:	Finance. -
Online resource:	click for full text (PQDT)
ISBN:	9798383198339

Learning From the Market : = The Choice Between IPOs and SPAC Mergers.
Yao, Yuchi.

Learning From the Market :The Choice Between IPOs and SPAC Mergers. - 1 online resource (74 pages)

Source: Dissertations Abstracts International, Volume: 86-01, Section: A.

Thesis (Ph.D.)--University of Rochester, 2024.

Includes bibliographical references

This paper studies the impact of the SEC's new rule, which makes the PSLRA's safe harbor for forward-looking statements unavailable for SPACs, on private firms. I build a dynamic model of a private firm's optimal timing for going public, featuring two public offering markets: SPACs, which produce more information but are more costly, and IPOs. I simulate the effect of the SEC's new rule on firms that are currently private. Excluding the safe harbor for SPACs causes the option value of private firms to decline and eliminates half the benefit of information production in the SPAC process.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2024

Mode of access: World Wide Web

ISBN: 9798383198339Subjects--Topical Terms:

559073
Finance.
Subjects--Index Terms:

Bayesian learningIndex Terms--Genre/Form:

554714
Electronic books.

Learning From the Market : = The Choice Between IPOs and SPAC Mergers.
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