Capital Markets                      

Q4, 2017

Mid-term report (total 25 points)

Submission Due:  23:59 on January 5, 2018

Submission method: by uploading a Word and related Excel filesto LUNA. The file names should have your student ID number.

• Pick up one company which announced an important event, such as considering acquiring or being acquired or unexpectedly good or bad financial performance, etc.
• Obtain daily stock price data of the selected company.
• Obtain daily data of an appropriate market index.
• Perform event study about the event you picked up in the process 1 above. Read chapter 11 about procedure of an event study for your reference. (Investments by Bodie, Kane and Marcus, 2014)
• Make a one page memo with appendix of spread sheet and/or slides, etc., if necessary, about the results of your event study.
• Refer example of Sprint Co’s case on the event that Soft Bank announced acquisition of Sprint Co on October 16, 2012 (sorry for partial Japanese). Remember, however, the process could vary depending upon the company in question, for example, the period used for estimating coefficients for calculating abnormal returns, etc.