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I already finished parts one and two, only need someone to interpret the data, w

by | Apr 29, 2022 | Accounting

 

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I already finished parts one and two, only need someone to interpret the data, which is the part 3
How do investors respond to Merger and Acquisition (M&A) announcements?
Work with your group members to analyze the data included in the “Mergers and Acquisitions” Excel file.
1. Full-sample analysis
• Clearly define the full-sample events provided (period, data source: GSI online)
https://wrds-www.wharton.upenn.edu/pages/about/data-vendors/gsionline/
• Present the summary statistics (n, mean, minimum, first quartile, median, third quartile,
maximum) of
a. Cumulative abnormal return on the announcement date (CAR00)
b. Two-days cumulative abnormal return from the announcement date (CAR01)
2. Sub-sample analysis
• Choose any two sub-samples based on the variables provided (e.g, period, deal specification,
transaction value, …etc.).
• Clearly define the sample.
• Present the summary statistics of CAR00 and CAR01.
• Compare the mean and median of CAR from the sub-sample and that of the full sample from 1.
3. Interpretation and discussion of your findings: For each subsample analyzed in 2, explain why, in our opinion, do the mean and median of CAR differ from those of the full sample analyzed in 1.

 

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