Manoj Sunny is from Des Plaines, Illinois pursuing his undergraduate degree in economics and finance while simultaneously taking master’s degree classes.
Hoping to utilize the concepts he was learning in his business classes and apply them to the professional world, Manoj was able to enlist Dr. Paul Drnevich via the Emerging Scholars network and eventually Colin Gilstrap during his research semester. The three studied returns through a market reaction lens at mergers and acquisitions deals, but specifically how investors - rather than corporations - reacted to it. They hoped their study would proide investors with knonwlege on how to respond to mergers, as well as benefit the companies. With the help of Colin Gilstrap, a PhD student (now an assistant professor at Toledo University), Manoj gathered information from a database and statiscal analysis using SAS. They found there was an excess return of 14 basis points - basis points being a measure of financial return - in the data, which implies that mergers allow investor to receive more from their investments using this particular strategy.