I experience difficulties with the data gathering for this research. This research examines the post performance of the acquiring company after the completion of an M&A deal. Time period (1995-2015).
Want to test if the M&A engaged acquiring companies experience long-term ( 3 year after completion) negative abnormal returns. Method: according Fama & French (1993) 3 factor-model (see attachment). So you have to construct these portfolios according to the Fama & French Method.
Already got all the deals M&A deals from 1995-2015, still have to link it with Datastream.
Also looking for a comparison between North America and Europe. And a analyses of Acquiror performance over time.
Requesting: Linking the data in datastream and perform the needed statistical tests according to Fama & French(SPSS or Stata).
In the attachment you an overview of the method in powerpoint, the article of Fama & French and the data criteria. The datafiles of the M&A deals will be send later, too big for uploading.
ADDITIONAL, MORE DETAILED INFORMATION ABOUT THE PROJECT.
Project: Proof negative effect M&A-engaging acquiring companies on their long-term shareholder value. Period 3 year after completion date (from 1995- 2015), analyzing the abnormal returns.
Method: Fama & French (1993) Three factor model: Rp,t - Rf,t = ap + bp (Rm,t - Rf,t) + spSMBt + hp HMLt + ep,t. Construct portfolios (value weighted and equal weighted) according the method of Fama & French. Already got all the M&A deals from 1995 untill 2015. Struggling with getting the rest of required data. All the deals contain Cusip and Ticker codes. You can find the data restrictions in one of the attachments.
- Obtain the rest of the required data en form the portfolios according to Fama & French
- Perform the statistical analysis (preferably with STATA)
- Test if there is a pattern in time.
- Compare abnormal return of North American acquirers with European
- Perform tests for rubestness and if possible perform alternative test, for example BHAR methodology.
In the data description you find the data criteria, an overwiew of the method (ppt) and the article of Fama & French on which the method is based.
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Hi! I am very interested in your job. I am a python and C# expert. I can do your project using python language. please discuss your project. I hope for your response. Thanks!