{"id":"https://openalex.org/W55616524","doi":null,"title":"Going public through the back door: A comparative analysis of SPACs and IPOs","display_name":"Going public through the back door: A comparative analysis of SPACs and IPOs","publication_year":2012,"publication_date":"2012-03-31","ids":{"openalex":"https://openalex.org/W55616524","mag":"55616524"},"language":"en","primary_location":{"id":"mag:55616524","doi":null,"is_oa":false,"landing_page_url":"https://iaes.confex.com/iaes/73am/webprogram/Paper7949.html","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null},"volume":null,"type":"article","indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5002907342","display_name":"Vinay T. Datar","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Vinay Datar","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5063908295","display_name":"Ekaterina E. Emm","orcid":"https://orcid.org/0000-0003-1458-8629","observed_orcids":["https://orcid.org/0000-0003-1458-8629"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ekaterina E. Emm","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-1458-8629","affiliations":[]},{"author_position":"last","author":{"id":null,"display_name":"Ufuk \u0130nce","orcid":"https://orcid.org/0000-0002-7316-4802","observed_orcids":["https://orcid.org/0000-0002-7316-4802"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ufuk \u0130nce","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-7316-4802","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":6.1736,"has_fulltext":false,"cited_by_count":25,"citation_normalized_percentile":{"value":0.95888968,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"4","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.6333000063896179,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.6333000063896179,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.3156999945640564,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.035100001841783524,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/special-purpose-acquisition-companies","display_name":"special purpose acquisition companies","score":0.9980000257492065},{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.9340000152587891},{"id":"https://openalex.org/keywords/ipo-firms","display_name":"IPO firms","score":0.6460000276565552},{"id":"https://openalex.org/keywords/firm-performance","display_name":"firm performance","score":0.6209999918937683},{"id":"https://openalex.org/keywords/debt-leverage","display_name":"debt leverage","score":0.47200000286102295},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.7620000243186951},{"id":"https://openalex.org/keywords/investment","display_name":"investment","score":0.453000009059906},{"id":"https://openalex.org/keywords/growth-opportunities","display_name":"growth opportunities","score":0.9909999966621399},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.6610000133514404}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.981701135635376},{"id":"https://openalex.org/C197129107","wikidata":"https://www.wikidata.org/wiki/Q1921621","display_name":"Merge (version control)","level":2,"score":0.7678360939025879},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6555190682411194},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5620431900024414},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.5526847243309021},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5160655379295349},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.46940553188323975},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3941158056259155},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.3509944677352905},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.27108001708984375},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C23123220","wikidata":"https://www.wikidata.org/wiki/Q816826","display_name":"Information retrieval","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"mag:55616524","doi":null,"is_oa":false,"landing_page_url":"https://iaes.confex.com/iaes/73am/webprogram/Paper7949.html","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.4399999976158142,"display_name":"Industry, innovation and infrastructure","id":"https://metadata.un.org/sdg/9"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W7015296866","https://openalex.org/W2187421745","https://openalex.org/W4411725293","https://openalex.org/W4412385825","https://openalex.org/W7025785964","https://openalex.org/W3208108803","https://openalex.org/W7135537359","https://openalex.org/W7033954896","https://openalex.org/W2484204915","https://openalex.org/W7034130288"],"abstract_inverted_index":{"We":[0,22],"study":[1],"the":[2,16,19,24,27,42,47,58,72,75,112],"fundamental,":[3],"operational,":[4],"and":[5,62,67,92,106,126],"aftermarket":[6],"characteristics":[7,25],"of":[8,26,77,82],"special":[9],"purpose":[10],"acquisition":[11],"companies":[12],"(SPACs)":[13],"created":[14],"in":[15,60,71],"U.S.":[17],"during":[18],"years":[20],"2003-2008.":[21],"compare":[23],"156":[28],"firms":[29,44,84,98,113,128],"that":[30,45,114],"chose":[31,46],"to":[32,36,88,93],"merge":[33],"with":[34,41],"SPACs":[35],"become":[37],"a":[38,116],"public":[39,50],"company":[40],"794":[43],"traditional":[48],"initial":[49],"offering":[51],"(IPO)":[52],"route.":[53],"In":[54],"addition,":[55],"we":[56],"analyze":[57],"changes":[59],"SPAC":[61,83,97,127,137],"IPO":[63,95,125],"firms\u2019":[64],"operational":[65],"performance":[66,81],"stock":[68,121],"market":[69],"returns":[70,122],"year":[73],"following":[74],"floatation":[76],"new":[78],"shares.":[79],"Operational":[80],"is":[85],"significantly":[86],"inferior":[87],"their":[89],"industry":[90],"peers":[91],"contemporaneous":[94],"firms.":[96,138],"carry":[99],"more":[100,134],"debt,":[101],"are":[102,129,132],"smaller,":[103],"invest":[104],"less,":[105],"have":[107],"lower":[108],"growth":[109],"opportunities":[110],"than":[111],"conduct":[115],"conventional":[117],"IPO.":[118],"While":[119],"excess":[120],"for":[123,136],"both":[124],"negative,":[130],"they":[131],"substantially":[133],"negative":[135]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":4},{"year":2023,"cited_by_count":3},{"year":2022,"cited_by_count":3},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":1},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1},{"year":2013,"cited_by_count":4}],"updated_date":"2026-10-29T09:56:32.521200","created_date":"2016-06-24T00:00:00"}
