| 中文摘要 | 第6-9页 |
| Abstract | 第9-10页 |
| Part1 | 第12-33页 |
| 1 Special Purpose Acquisition Company | 第13-33页 |
| 1.1. Introduction | 第13页 |
| 1.2. Definition and Origins | 第13-14页 |
| 1.3. Historical evolution | 第14-17页 |
| 1.4. General characteristics and functioning | 第17-19页 |
| 1.5. Sponsors | 第19-20页 |
| 1.6. The IPO | 第20-25页 |
| 1.6.1. Stocks | 第21-22页 |
| 1.6.2. Warrant | 第22-24页 |
| 1.6.3. Trust | 第24-25页 |
| 1.7. The Business Combination | 第25-26页 |
| 1.8. Different ways in which a business combination occurs | 第26-28页 |
| 1.9. Liquidation | 第28-29页 |
| 1.10. SPAC and Private Equity | 第29-33页 |
| Part 2 | 第33-39页 |
| 2 SPAC in Italy | 第34-39页 |
| 2.1 Introduction | 第34页 |
| 2.2 Regulatory standards of Borsa Italiana S.p.A | 第34-36页 |
| 2.3 Italian SPACS | 第36-39页 |
| Part 3 | 第39-76页 |
| 3 Analysis | 第40-76页 |
| 3.1 Introduction | 第40页 |
| 3.2 The market value of management implication of SPAC IPO pricing | 第40-41页 |
| 3.3 Development of hypothesis | 第41-45页 |
| 3.3.1 Management quality and reputation vs. characteristics of SPAC IPOs | 第41-44页 |
| 3.3.2 Quality and reputation of management, underpricing and business combination successful | 第44-45页 |
| 3.4 Empirical results | 第45-76页 |
| 3.4.1 The sample group | 第45-48页 |
| 3.4.2 Construction of variables | 第48-53页 |
| 3.4.3 Management team quality and reputation and capital raised in the IPO | 第53-56页 |
| 3.4.4 Management team quality and reputation and lead underwriter reputation.56 | 第56-59页 |
| 3.4.5 Management team quality and reputation and underwriting spread | 第59-62页 |
| 3.4.6 Management team quality and reputation and total cost of listing | 第62-64页 |
| 3.4.7 Management team quality and reputation and underpricing | 第64-67页 |
| 3.4.8 Management quality and reputation and time to deal from IPO to business combination closing | 第67-70页 |
| 3.4.9 Management team quality and reputation and time to deal from business combination announcement to closing | 第70-73页 |
| 3.4.10 Management team quality and reputation and long-term unit performance | 第73-76页 |
| Conclusion | 第76-78页 |
| Bibliography | 第78-86页 |
| Acknowledgements | 第86-87页 |
