empirical research Event study methodology
Assessments
This module along with A1 and E1 are coursework assessed.
There are two types of assignment for each of A1, C1 and E1, and each student willcomplete one assignment of each type:
– a review of literature, part of which is assigned in a reading list,
– a report on empirical research carried out by the student with direction provided bythe seminar leader(s).
Review of the literature
If you choose to do this assessment you are required to provide a review of the literatureof how to conductlong-run event studies (examining performance more than 12 months following an event). A few articles will be provided on blackboard to start you off with the review but you must search for relevant articles yourself as well.
Empirical research
If you choose to do this assessment you are required to design and carry out an event study by first searching for announcements of mergers and acquisitions using Thomson Banker. I will remind you, during the lectures, how to access Thomson Banker and search for the data. You should choose to look at the share price reaction on the date of the announcement of the acquirer company.The announcement dates should be restricted to 1st January 2011 onwards You will need to read a synopsis of previous literature examining share price reaction around mergers to fully understand how to set up your hypotheses and methods of enquiry and should discuss the literature briefly in your report. Links to relevant papers will be put on Blackboard. The marking grid for the empirical research is attached.
Due to time constraints you should keep your sample to around 50 – 100 companies.
Event study marking scheme
A*
A+ A A- B+ B B- C+ C C- D+ D D- E F F1 F2 F3
Introduction including brief review of relevant literature
Selection of data and description
Discussion of methodology adopted
Application of methodology
Presentation of results
Discussion of results
Conclusion
Additional comments
Overall grade:
ScholarMatic: Explanation & Answer
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