Accounting & Finance Research Community – Dr Lora Dimitrova

Title: Executive Visibility: A Worthwhile Investment or a Futile Pursuit?

Date: 08 November 2023

Time: 14:00-15:00

Location: NUBS.2.03

Guest Speaker: Dr Lora Dimitrova, University of Exeter Business School

If you would like to attend, please register using the following link:

Executive Visibility: A Worthwhile Investment or a Futile Pursuit?

Dr. Lora Dimitrova is a Senior Lecturer at the University of Exeter Business School. Her research focuses on entrepreneurial finance, corporate innovation, and venture capital. Her work has been published in top academic journals such as the Journal of Accounting and Economics, the Review of Finance and the Journal of Banking and Finance. Her work has won several research grants including the Coller Institute of Venture Research Grant, the British Academy Leverhulme Research Grant and Chaire Fintech AMF Grant. Her research has also been awarded the Coller Institute of Private Equity Runner-up Prize. Lora earned her Ph.D. in Finance from the London Business School, and her M.Sc. in Finance from Concordia University. http://business-school.exeter.ac.uk/about/people/profile/index.php?web_id=Lora_Dimitrova

Abstract:

This study examines the relationship between executive visibility and investor attraction, using SPACs as a laboratory. Visibility is measured through press, internet, and social media. The research shows that highly visible executives raise 35.8% more funds and complete IPOs in a third less time than less visible executives. Greater visibility is linked to increase in short-term returns at merger announcement, but this is not sustained over time. Institutional investors trade on visibility by selling SPACs led by less visible executives and investing in those led by highly visible ones, attracting retail investors and securing their exit strategy before merger completion.