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CEO Compensation and Returns to Public and Private Acquisitions: Testing the Shareholder Value Hypothesis (view source)
Revision as of 17:39, 9 August 2017
, 17:39, 9 August 2017no edit summary
The current version of the dataset is:
MasterV1-1.txt
==To do==
We need to solve the multiple acquisitions on a single day problem. The result needs the variables listed for acquisitions below (crucially including pub/priv indicator, CAR5, sameday indicator, sharesoutstanding, with a cusip-year key).
We might also want to add:
*IT target
*VC backed target
Candidate starting points:
*SDCv2 is the import with some simple exclusions and basic processing 49031 - but it was likely overwritten and became 40216
*A rebuild from SDCBase appears the replacement but this seems to have thrown out same day acqs. We therefore need to go back to the raw import of SDC_MA_Oct10v4-fixed-normal.txt into table "SDC".
*SHOUT appears to have come from prc, which in turn came from CRSPRelNOInc. CRSPRelNOInc is a base table for both estimation and event window builds.
**We would need to calc day number again for SDC, which would mean bringing in the dayno table.
**Then we'd need to create new estimation data for the missing records: acq_cusip, date_announced, acqkey, dayno, avg(ret) as ret, primex, vret, eqret, reldayno, retdayno (see EstimationBase) - but maybe this time take SHOUT with you!
**Run the estimation (using script ???.do) and build a new estimationtotal file and import it in estimationoutput
**Build a new EventBase, and everything in CRSP_TABLE.sql through to Flatter
**Join this to EstimationOutput, calculate the abnormal returns and then CARs.
**Finally join all of this mess back!
==Variables==
