| 授業名 | Mergers & Acquisitions |
|---|---|
| Course Title | Mergers & Acquisitions |
| 担当教員 Instructor Name | Dongyu Guo |
| コード Couse Code | NUC418_N21B |
| 授業形態 Class Type | 講義 Regular course |
| 授業形式 Class Format | On Campus |
| 単位 Credits | 2 |
| 言語 Language | EN |
| 科目区分 Course Category | 専門教育科目 / Specialized Subject |
| 学位 Degree | BBA |
| 開講情報 Terms / Location | 2021 UG Nisshin Term3 |
授業の概要 Course Overview
Misson Statementとの関係性 / Connection to our Mission Statement
This course assists students to foster a "Frontier Spirit", and enables them to solve economic and business problems in a global society.
授業の目的（意義） / Importance of this course
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.
到達目標 / Achievement Goal
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
LG5 Business Perspectives (BSc)
LG7 International Perspectives (BA)
LG2 Diversity Awareness
LG3 Ethical Decision Making
LG4 Effective Communication
LG5 Business Perspectives (BSc)
LG7 International Perspectives (BA)
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 firms’ strategies,
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.
o understand the role of mergers and acquisitions in firms’ strategies,
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
Goal 4 質の高い教育をみんなに（Quality Education）
教育手法 Teaching Method
| 教育手法 Teaching Method | % of Course Time | |
|---|---|---|
| インプット型 Traditional | 20 % | |
| 参加者中心型 Participant-Centered Learning | ケースメソッド Case Method | 80 % |
| フィールドメソッド Field Method | 0 % | 合計 Total | 100 % |
事前学修と事後学修の内容、レポート、課題に対するフィードバック方法 Pre- and Post-Course Learning, 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 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.
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
Case: Airlines and Antitrust: Scrutinizing the American Airlines-US Airways MergerCase provider: HBP
第2日（Day2）
Horizontal M&A in the US-2●使用するケース
Case: Charter Communications: Another Bid for Time Warner Cable?Case provider: HBP
第3日（Day3）
Horizontal M&A in the EU●使用するケース
Case: Antitrust Regulations in a Global Setting: The EU Investigation of the GE/Honeywell MergerCase provider: HBP
第4日（Day4）
Horizontal M&A in traditional industries●使用するケース
Case: Tokyo Electron: The Competitive Consolidation and Antitrust ChallengeCase provider: HBP
第5日（Day5）
Horizontal M&A in digital industries●使用するケース
Case: $19B 4 txt app WhatsApp...omg!Case provider: HBP
第6日（Day6）
Vertical M&A●使用するケース
Case: AMC Networks Inc.: The Walking Dead ProblemCase provider: HBP
第7日（Day7）
Post merger●使用するケース
Case: DaimlerChrysler Post-Merger Integration (A)Case provider: HBP
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。
*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
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.教科書 Textbook
- Massimo Motta「Competition Policy: Theory and Practice (NOT necessary for the course)」Cambridge University Press（2004）9780521016919
参考文献・資料 Additional Readings and Resource
Lecture slides, cases, and other reading materials will be distributed.
The textbook only serves as a reference.
The textbook only serves as a reference.
授業調査に対するコメント Comment on Course Evaluation
The contents are modified based on the concerns raised last year.
担当教員のプロフィール About the Instructor
Dongyu Guo received a Ph.D. in economics from the Humboldt University of Berlin (HU), and an M.Sc. in statistics from the London School of Economics and Political Science (LSE).
Her research interests lie primarily in the fields of industrial organization, competition policy, regulation, and, more broadly, applied microeconomic theory. She has published in the main international economics journals in her research field (International Journal of Industrial Organization, etc.), as well as in general interest economics journals (such as European Economic Review).
（実務経験 Work experience）
Prior to joining NUCB Business School in 2020, she was a Research Fellow for the Chair of Microeconomics and International Economics at the 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