case study作业要求

发布时间：2015-07-14 09:48

case study作业要求

 

Bidders Long-run Performance and Market Valuation: Evidence from Mergers and Acquisitions

共5000字

1. 引言Introduction （1000字）

What is the main research question?
Why do you want to do it (your motivation)?
Key literature of the area
What is the main result?

2.文献综述Literature review （1500字）

What is merger motivation?

What is the short and long run performance? 
ü short run performance: CAR (cumulative abnormal return)
ü Long run performance: BHAR (buy and hold abnormal return)

Major research in the merger and acquisition since 2000
请查看附件中的参考文献（共13篇）

What is the case study methodology? (Hubris hypothesis, EMH 等)

3. 数据Data （1500字）

Why do you choose these two cases, where did you find the data?
案例分析：建议Bankers Trust 和 WorldCom (具体案例可查看分别的附件)

The resources and annual report etc （请自行查找）

4. 研究方法Methodology （250字）
Why using case study instead of event study

5. 结果Results （250字）
Give some tables and need to explain each table（请根据需要添加图表）

6. 结论Conclusions （500字）

7. 参考文献References （以下参考文献请务必使用，已加入到附件中）

 

1)Andrade, G., M. Mitchell, and E. Stafford (2001, Spring). New evidence and perspectives on mergers. Journal of Economic Perspectives 15(2), 103–120.
2) Barber, B. M. and J. D. Lyon (1997). Firm size, book-to-market ratio, and security returns: A holdout sample of financial firms. Journal of Finance 52(2), 875–83.
3) Bouwman, C. H. S., K. Fuller, and A. S. Nain (2008). Market Valuation and Acquisition Quality: Empirical Evidence. Review of Financial Stududies Forthcoming.
4) Clement, M. B. (1999, July). Analyst forecast accuracy: Do ability, resources, and portfolio complexity matter? Journal of Accounting and Economics 27(3), 285–303.
5) Harford, J. (2005). What drives merger waves? Journal of Financial Economics 77(3), 529–560.
6) Healy, P. M., K. G. Palepu, and R. S. Ruback (1992). Does corporate performance improve after mergers? Journal of Financial Economics 31(2), 135–75.
7) Jensen, M. C. (1986). Agency costs of free cash flow, corporate finance, and takeovers. American Economic Review 76(2), 323–29.
 8) Loughran, T. and A. M. Vijh (1997). Do long-term shareholders benefit from corporate acquisitions? Journal of Finance 52(5), 1765–90.
9) Rau, P. R. and T. Vermaelen (1998). Glamour, value and the post-acquisition performance of acquiring firms. Journal of Financial Economics 49(2), 223–53.
 10) Rhodes-Kropf, M., D. T. Robinson, and S. Vishanathan (2005). Valuation waves and merger activity: The empirical evidence. Journal of Financial Economics 77, 561603.
11) Rhodes-Kropf, M. and S. Viswanathan (2004). Market valuation and merger waves. Journal of Finance 59, 2685–2718.
12) Shleifer, A. and R. W. Vishny (2003). Stock market driven acquisitions. Journal of Financial Economics 70(3), 295–311.
13) Roll (1986) The Hubris Hypothesis of Corporate Takeovers. Journal of Business 59(2) 197-216
PS: 请对参考文献进行增加及扩充，总数请务必保证至少40个）

请认真查看附件，内有详细要求。
写作风格必须是进行具体分析，切记不可大量罗列空泛的理论，，要多以“我”的分析的口吻来写，特别是INTRODUCTION 和 CONCLUSION 部分。对于案例分析不可只停留于理论，要多与案例结合来分析，对案例具体内容要深入分析。

 

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