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Contribution Details

Type Bachelor's Thesis
Scope Discipline-based scholarship
Title SPACs – Does the IPO-shortcut impact governance structures?
Organization Unit
Authors
  • Linus Weber
Supervisors
  • Christoph Wenk Bernasconi
  • Alexander Wagner
Language
  • English
Institution University of Zurich
Faculty Faculty of Business, Economics and Informatics
Number of Pages 51
Date 2022
Abstract Text This bachelor’s thesis examines board structures of U.S. companies which recently went public via SPACs. Through hand-collected data gathered from schedule 14a filings, I find that first, SPAC company directors have accumulated less tenure than their IPO company equivalents. Second, SPAC companies have fewer female directors serving on their boards, and third, fewer SPAC company directors fulfil an additional outside executive role. I also find that in other metrics, including director age, independence, and company share ownership, as well as additional directorships, and CEO-chairman duality, SPAC company boards appear similar to IPO company boards.
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