A dynamic delegated investment model of SPACs
We study SPACs in a continuous-time delegated investment model. Our model is built upon three unique features of SPACs: the sponsor and the investor are only partially aligned, a SPAC has a short time horizon, and the investor has the final control over investment approval. Due to the misalignment i...
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| Main Authors: | , |
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| Format: | text |
| Language: | English |
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Institutional Knowledge at Singapore Management University
2021
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/7037 https://ink.library.smu.edu.sg/context/lkcsb_research/article/8036/viewcontent/SSRN_id3929762.pdf |
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| Institution: | Singapore Management University |
| Language: | English |