代做ECON 6027 ECONOMICS FOR INVESTMENT帮做R语言
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(ECON 6027)
PROJECT
BLOOMBERG BILLIONAIRES
DUE MONDAY, 28 APRIL 2025 AT 10AM
Fun question. Can you name the billionaires and where the photo was taken?
Each day, Bloomberg updates its list of the richest people in the world (https://www.bloomberg.com/billionaires/).
We have provided a list of companies associated with people (anonymized in the table) who have been included in the Bloomberg Billionaires list, the dates these people first appeared in the Bloomberg Billionaires Index and a firm identifier. Use this data, and WRDS, to conduct an event study on the effect these individuals’ first appearance in the index influences share prices (or do not influence share prices).
This is a research project! You will also have to review relevant literature, apply this literature to the problem and the hypotheses you may wish to test. When Robert was considering this project, he was guided by the literature on limited attention. Robert’s paper – Exogenous and Endogenous Attention and the Convergence of Analysts’ Forecasts – should not be cited directly but it has a nice discussion of the theory. Barber and Odean (2007) is an important work. Klibanoff, Lamont and Wizman (1998) is probably very instructive but it is old and probably won’t come up in your searches (it predates the now common use of “attention” in the Finance literature). When searching the literature, confine your efforts to the top four finance journal – the Journal of Finance, the Journal of Financial Economics, the Review of Financial Studies and the Journal of Financial and Quantitative Analysis – and the two top behavioural finance journals – the Journal of Behavioral Finance and the Journal of Behavioral and Experimental Finance – and perhaps don’t go much earlier than 2010.
Your paper should be 2,500 words in length including tables and references. This does not include the title page where you will put”
. the title of the paper;
. your name;
. your student number; and
. the number of words in the body of the text.
Finance Research Letters will give you good examples of the type of paper you should produce.
Use a font, and line spacing, which is easy to read.
Given that this is a research project, you may, or may not, find evidence of abnormal returns. Remember that event studies require you to look at your data and think about it. If you do not think you have found anything, remember you need to look thoroughly and think about the data.
A rubric will be available soon but your marks (and it is worth 50% of your final mark) will come from:
. the quality of your literature review and how you apply it to the problem (20 marks);
. your execution and interpretation of the event study (20 marks); and
. the quality of your writing and presentation (10 Marks).
References
Barber, B.M., Odean, T., 2007. All That Glitters: The Effect of Attention and News on the Buying Behavior. of Individual and Institutional Investors, Review ofFinancial Studies 21, 818.
Durand, R.B., Limkriangkrai, M., Fung, L., 2019. Journal ofBehavioral Finance 20, 154-172.
Klibanoff, P., Lamont, O. Wizman, T.A., 1998. Investor Reaction to Salient News in Closed- End Country Funds, Journal of Finance 53, 673-699.