*Update* A Sober Look at SPACs with Professor Michael Klausner
Episode 1 of the The Voice of Corporate Governance podcast, hosted by The Council of Institutional Investors, titled "*Update* A Sober Look at SPACs with Professor Michael Klausner" was published on January 7, 2022 and runs 14 minutes.
January 7, 2022 ·14m · The Voice of Corporate Governance
Summary
In this episode, CII General Counsel Jeff Mahoney interviews Michael Klausner, the Nancy and Charles Munger Professor of Business and Professor of Law, at Stanford Law School. Last year, Professor Klausner co-authored a research paper entitled “A Sober Look at SPACs.” Based on research from January 2019 through June 2000, the paper found three disconcerting features of special purpose acquisitions companies: (1) SPAC shares were highly dilutive; (2) the post-merger performance of SPAC share...
Episode Description
In this episode, CII General Counsel Jeff Mahoney interviews Michael Klausner, the Nancy and Charles Munger Professor of Business and Professor of Law, at Stanford Law School.
Last year, Professor Klausner co-authored a research paper entitled “A Sober Look at SPACs.” Based on research from January 2019 through June 2000, the paper found three disconcerting features of special purpose acquisitions companies: (1) SPAC shares were highly dilutive; (2) the post-merger performance of SPAC shares were quite low; and (3) SPAC sponsors’ returns were extraordinarily high.
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