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.