Why SPAC investors should listen to the market.
|Abstract||Special purpose acquisition companies (SPACs) have raised around $22bn from investors since 2003, and comprised 20% of total funds raised in US IPOs in 2007. SPACs are interesting structures – allowing investors a risk-free option to invest in a future acquisition. However, we show that more than one-half of approved deals immediately destroy value. Investors, who can observe the market’s view of the proposed deal, as well as that of the founders ... [truncated at 450 characters in length]|
|Creator||Tim Jenkinson; Miguel Sousa;|
Some Issues in Modeling and Forecasting Inflation in South Africa.
|Abstract||Inflation targeting central banks will be hampered without good models to assist them to be forward-looking. Many current inflation models fail to forecast turning points adequately, because they miss key underlying long-run influences. The world is on the cusp of a dramatic turning point in inflation. If inflation falls rapidly, such models can underestimate the speed at which interest rates should fall, damaging growth. Our forecasting models f ... [truncated at 450 characters in length]|
|Creator||Janine Aron; John N. J. Muellbauer;|
On solving trust-region and other regularised subproblems in optimization
|Abstract||The solution of trust-region and regularisation subproblems which arise in unconstrained optimization is considered. Building on the pioneering work of Gay, Mor´e and Sorensen, methods which obtain the solution of a sequence of parametrized linear systems by factorization are used. Enhancements using high-order polynomial approximation and inverse iteration ensure that the resulting method is both globally and asymptotically at least superlinearl ... [truncated at 450 characters in length]|
|Author||H. Sue Dollar; Nicholas I. M. Gould; Daniel P. Robinson;|
Scenarios Practices: In Search of Theory
|Abstract||Graham Molitor's article provides a timely prompt for reflecting on the value of scenario practices, especially given several data sources indicating their usage has increased significantly since 2001 (e.g. Ramirez, Selsky, & van der Heijden, 2008, p.9). Molitor is not alone in his struggle to clarify the effectiveness of scenario practices. Others, including myself, are endeavouring to address similar questions: how to judge effectiveness and wh ... [truncated at 450 characters in length]|