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Our group studied, “Testing the efficiency of the Euro Stoxx 50 Index”. Euro Stoxx is made up of 50 of the largest and most liquid stock in the European Exchange. Uniliver, BMW ST and Adidas are some of the stocks included in the index. We test efficient market hypothesis for Euro 50 Index in three different areas such as day of the week effect, event study-Brexit, and portfolio study.
Day of the week effect:
We calculated daily returns from the opening of the index considering adjusted clos and computed average daily return by simply taking average of daily returns. Based on this analysis, we said that it falls in line with the effect and Friday shows greater returns than Monday. (Excel screenshot on the appendix)
Event Study: BREXIT:
In this part, we identify event dates for our sample, collect returns around event dates and adjust the returns. Based on these steps, we studied daily returns one month before and after the Brexit vote. In addition, we calculated daily returns and abnormal returns taking adjusted close into consideration and we ran T-text to figure out whether the T-statistic is significant or not. By doing these, we concluded that vote did not significantly effect returns on the index. Also, we came up with 0.81 as the T-statistic, which in fact falls, between -2 and +2; therefore, we concluded that the abnormal returns are not statistically significant. This study does not show inefficiency in the market. (Please see Excel screenshot on the appendix for calculations).
Portfolio Study: P/E Ratio
For the portfolio study, we grouped stocks into five portfolios based on increase P/E ratios. First portfolio held lowest P/E ratios and the last portfolio held highest P/E ratios. Stocks with P/E ratio of zero were eliminated from the study. Also, we computed average monthly return for each portfolio. Based on our study, we concluded that stocks with lowest P/E ration had highest return and the stocks with highest P/E ratio had lowest return, which suggest inefficiency in the index. (please see appendix for calculations)
Findings:
After conducting these tests of market efficiency, we said that day of the week suggests inefficiency in the Euro Stoxx 50, event study of Brexit did not significantly effect returns, and does not suggest inefficiency, and portfolio study that has low P/E ratio suggest inefficiency.
There are few things I did specifically to contribute to my teammates. I attended all the group meetings and collaborate with friends to complete this assignment. I helped on calculating numbers and making the power points. In addition, I also rehearsal with my friends before the actual delivery, but unfortunately I was not able to make during the presentation day because of my sickness. Overall, I enjoy doing this assignment and working with my fantastic team members.
In this course, I learned about different writing genres, designing, and how to write concisely in the professional setting. In order to achieve them, I took advantage of writing center, revise my work before turning in, and attended the class regularly, which help me to understand the material to make it more reader-centered and persuasive. One of the examples of the document that I wrote this semester is the feedback email that we sent to one person in our class regarding their instructions project. In addition, I was able to meet the entire deadline, which helps me to achieve these goals.
I have achieved my goals that I have set during the middle of the semester. Clearly, I struggle a lot writing in different genres, but writing center undoubtedly helped me on improving my writing; therefore, I think I perform a lot better in the second half of the semester.
In our campus concern project about “Whitman Course Policy”, I contributed in different aspects. First, I came up with a topic and propose to my group members and my team member seems comfortable with the topic; therefore, we decided to execute and completed later. Second, I wrote first draft of the project such as the situation analysis, and the proposal to the administrative audience. Third, I surveyed friends at Whitman and the school of communication. Also, I interviewed with three professors, who taught Whitman courses for non-Whitman students. Forth, I have created and designed handout-using piktochart, which we distributed during our presentation. Fifth, I have helped my teammates to complete the power points slides on the Google slides. Sixth, with due diligence, I attended all the group meeting on time and contributed as necessary and present my part during the presentation day. Lastly, all the work that I have done contribute in some ways to the completion and success of our campus concern project.
There are few things I could have done differently to improve in this course. One of them is, I could have designed my instructions differently rather than using power points format. Goals for my future work would be avoiding bland phrases because it sounds boring. Also, incorporating more specific facts and continuing to use the persuasive techniques.
I think campus concern project would be more interesting if the number of students is just two or one. [ just my opinion]
This is the third part of the campus concern assignment on which we are required to send feedback email to one our classmates’ instructions. I chose Steven’s instruction about using phone at Kaback Enterprise and I send him a detail feedback regarding his instruction design. I choose this assignment to include in this portfolio because this email exemplify that how to offer a great feedback at workplace to collogues while maintaining the positive and professional tone. In addition, I want my viewer to understand that, this is an assignment for the class on which we learned to offer feedbacks in the workplace.
Situational Analysis is first part of campus concern assignment, which we completed as a memo. On the memo, we talked about existing issue in the campus; people affected by the issue, administrative audience and our team expectations. I choose to include Situation Analysis on my portfolio because we present the issue very concisely and persuasively. I want my viewer to understand that this is our opinion about the current issue that needs to be address in the campus. Also, we are doing this as an assignment for the class.
In this assignment, I provided unsolicited recommendation for improving their service at Slutzker Center for International student. I choose this assignment to include on my portfolio because this is my first try on which I have written or provided recommendation, which was not asked. Since this is my first time providing recommendation, I found this assignment a little bit challenging, but quite interesting. Furthermore, I want my viewer to understand that this recommendation letter is nothing, but class assignment, practicing to provide unasked recommendation.