シラバス Syllabus

授業名 Mergers & Acquisitions
Course Title Mergers & Acquisitions
担当教員 Instructor Name Dongyu Guo
コード Couse Code NUC409_N20B
授業形態 Class Type 講義 Regular course
授業形式 Class Format
単位 Credits 2
言語 Language EN
科目区分 Course Category
学位 Degree BBA
開講情報 Terms / Location 2020 UG Nisshin Term3

授業の概要 Course Overview


Mergers and acquisitions (M&A) is a general term used to describe the consolidation of companies or assets through various types of financial transactions, including mergers, acquisitions, consolidations, tender offers, purchase of assets and management acquisitions. The objective of the course is to develop a comprehensive understanding of mergers and acquisitions from the perspective of both firms and antitrust authorities. This course primarily examines the merger cases from the economics point of view. As the cases cover different industries with different merger decisions, students have the opportunity to identify the principles underlying competition. Furthermore, students have the opportunity to compare merger policies across different countries/regions.

本授業の該当ラーニングゴール Learning Goals

*本学の教育ミッションを具現化する形で設定されています。

LG1 Critical Thinking
LG2 Diversity Awareness
LG3 Ethical Decision Making
LG4 Effective Communication

受講後得られる具体的スキルや知識 Learning Outcomes


If students complete the course successfully, they should be able to
o understand the role of mergers and acquisitions in firm’s strategy,
o know the main concepts related to managing mergers and acquisitions,
o illustrate the cases and decisions of the antitrust authority,
o examine the cases through economic models and/or rigorous arguments.

SDGsとの関連性 Relevance to Sustainable Development Goals

教育手法 Teaching Method

教育手法 Teaching Method % of Course Time
インプット型 Traditional 30 %
参加者中心型 Participant-Centered Learning ケースメソッド Case Method 70 %
フィールドメソッド Field Method 0 %
合計 Total 100 %

学習方法、レポート、課題に対するフィードバック方法 Course Approach, Report, Feedback methods

o The students are supposed to devote at least 3 hours to individual preparation for each case. They should complete the mandatory readings, as part of the self-learning process, in order to learn the necessary fundamentals, concepts and theories that allow them to understand and be prepared for each lecture.
o Additional readings are encouraged for the students who wish to acquire deeper insights.
o Each student should hand in one preparation report and one final report. The assignments will be announced in the first lecture.
o In the case method form, the students are asked to speak in a propositive manner during the class and acquire a thorough understanding of the discussion.

授業スケジュール Course Schedule

第1日(Day1)

Horizontal M&A in the US 1

●使用するケース
Title: Airlines and Antitrust: Scrutinizing the American Airlines-US Airways Merger
Case Provider: HBP
Link: https://hbsp.harvard.edu/product/KS1140-PDF-ENG

第2日(Day2)

Horizontal M&A in the US 2

●使用するケース
Title: Charter Communications: Another Bid for Time Warner Cable?
Case Provider: HBP
https://hbsp.harvard.edu/product/W19366-PDF-ENG

第3日(Day3)

Horizontal M&A in the EU

●使用するケース
Title: Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell Merger
Case Provider: HBP
Link: https://hbsp.harvard.edu/product/204081-PDF-ENG

第4日(Day4)

Horizontal M&A in Canada

●使用するケース
Title: Tervita's Acquisition of Complete Environmental Inc.
Case Provider: HBP
Link: https://hbsp.harvard.edu/product/W17521-PDF-ENG

第5日(Day5)

Horizontal M&A in multiple countries

●使用するケース
Title: Tokyo Electron: The Competitive Consolidation and Antitrust Challenge
Case Provider: HBP
Link: https://hbsp.harvard.edu/product/W17244-PDF-ENG

第6日(Day6)

Vertical M&A in the US

●使用するケース
Title: AMC Networks Inc.: The Walking Dead Problem
Case Provider: HBP
Link: https://hbsp.harvard.edu/product/W18833-PDF-ENG

第7日(Day7)

Vertical M&A in the EU

●使用するケース
Title: Ferrero Group: Achieving Sustainability Through Supply Chain Integration
Case Provider: HBP
Link: https://hbsp.harvard.edu/product/W17371-PDF-ENG

成績評価方法 Evaluation Criteria

*成績は下記該当項目を基に決定されます。
*クラス貢献度合計はコールドコールと授業内での挙手発言の合算値です。
講師用内規準拠 Method of Assessment Weights
コールドコール Cold Call 0 %
授業内での挙手発言 Class Contribution 50 %
クラス貢献度合計 Class Contribution Total 50 %
予習レポート Preparation Report 20 %
小テスト Quizzes / Tests 0 %
シミュレーション成績 Simulation 0 %
ケース試験 Case Exam 0 %
最終レポート Final Report 30 %
期末試験 Final Exam 0 %
参加者による相互評価 Peer Assessment 0 %
合計 Total 100 %

評価の留意事項 Notes on Evaluation Criteria

使用ケース一覧 List of Cases

    ケースは使用しません。

教科書 Textbook

  • Massimo Motta「Competition Policy: Theory and Practice (The textbook is not necessary for this course)」Cambridge University Press(2004)978-0262035941

参考文献・資料 Additional Readings and Resource

Fumagalli, C., M. Motta and C. Calcagno. Monopolisation: The Economics of Exclusionary Practices. Cambridge University Press, 2018.

授業調査に対するコメント Comment on Course Evaluation

NA

担当教員のプロフィール About the Instructor 


Dongyu Guo received her Ph.D. in Economics at Humboldt University of Berlin and her M.Sc. in Statistics (research) at London School of Economics and Political Science. Her research interests lie primarily in the fields of industrial organization, competition policy, regulation and, more broadly, applied microeconomic theory.

(実務経験 Work experience)


Prior to joining NUCB, she worked as Research Fellow at the Chair of Microeconomics and International Economics at University of Duisburg-Essen, Germany.

Refereed Articles

  • (2020) Regulatory risk, vertical integration, and upstream investment. European Economic Review 128
  • (2020) Mergers with Structural Remedies in a Cournot Oligopoly. Theoretical Economics Letters 10(2): 2162-2078
  • (2017) Asymmetric price adjustments: A supply side approach. International Journal of Industrial Organization 50
  • (2015) Mergers between regulated firms with unknown efficiency gains. Review of Economic Design 19






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