Table 4. Effect of mass shootings on firearm manufacturer market returns.

	(1)	(2)	(3)	(4)
Dependent Variable	r	r	r	r
Time Window	1 Day	2 Day	5 Day	10 Day
Treatment	-0.00159	-0.00513**	-0.00237	-0.00215*
	(0.00316)	(0.00210)	(0.00156)	(0.00110)
DGTW Return	0.264***	0.275***	0.237***	0.231***
	(0.0413)	(0.0336)	(0.0247)	(0.0185)
Constant	0.0161***	0.0174***	0.0140***	0.0145***
	(0.00246)	(0.00223)	(0.00158)	(0.00110)
N	552	920	2,024	3,864
R-squared	0.108	0.121	0.088	0.087

Dependent Variable: Percent Change in Firm Stock Price.

Model: OLS Market Movement Event Study.

Market Controlled for using DGTW.

Bootstrapped standard errors in parentheses.

*** p<0.01

** p<0.05

* p<0.1.