Table 6. Relative time model of daily returns pre- and post-event using firearm manufacturers, TNIC counterfactual set, and DGTW as control for market.
| (1) | (2) | (3) | |
|---|---|---|---|
| Dependent Variable | Base | TNIC | DGTW |
| Rel Timet-10 | -0.00619* | -0.00151 | -0.00643** |
| (0.00364) | (0.00259) | (0.00312) | |
| Rel Timet-9 | -0.00427 | -0.00185 | -0.000974 |
| (0.00366) | (0.00272) | (0.00387) | |
| Rel Timet-8 | -0.00200 | 0.000745 | -0.00324 |
| (0.00350) | (0.00240) | (0.00297) | |
| Rel Timet-7 | 0.00214 | -0.00420 | 0.00295 |
| (0.00385) | (0.00280) | (0.00292) | |
| Rel Timet-6 | 0.00196 | -0.00397* | 0.00275 |
| (0.00382) | (0.00231) | (0.00386) | |
| Rel Timet-5 | -0.00155 | -0.00281 | -0.000962 |
| (0.00320) | (0.00236) | (0.00342) | |
| Rel Timet-4 | -0.00307 | 0.00251 | -0.000255 |
| (0.00437) | (0.00316) | (0.00375) | |
| Rel Timet-3 | -0.0127*** | -0.00342 | -0.0123*** |
| (0.00342) | (0.00293) | (0.00417) | |
| Rel Timet-2 | -0.00287 | -0.000705 | 0.000506 |
| (0.00369) | (0.00230) | (0.00305) | |
| Rel Timet-1 | Omitted Category | ||
| Rel Time0 | -0.00527* | -0.00206 | -0.00424 |
| (0.00318) | (0.00275) | (0.00327) | |
| Rel Timet+1 | -0.00539 | 0.000726 | -0.00346 |
| (0.00336) | (0.00342) | (0.00300) | |
| Rel Timet+2 | -0.00997** | -0.00255 | -0.00878** |
| (0.00401) | (0.00257) | (0.00354) | |
| Rel Timet+3 | -0.00600* | 0.00195 | -0.00469 |
| (0.00363) | (0.00300) | (0.00346) | |
| Rel Timet+4 | -0.00723* | -0.00289 | -0.00481 |
| (0.00371) | (0.00267) | (0.00375) | |
| Rel Timet+5 | -0.00679** | -0.00445 | -0.00418 |
| (0.00317) | (0.00283) | (0.00366) | |
| Rel Timet+6 | 0.00270 | -0.00279 | 0.00444 |
| (0.00320) | (0.00240) | (0.00385) | |
| Rel Timet+7 | -0.00452 | -0.00132 | -0.00217 |
| (0.00379) | (0.00263) | (0.00371) | |
| Rel Timet+8 | -0.00445 | 0.000518 | -0.00348 |
| (0.00320) | (0.00242) | (0.00319) | |
| Rel Timet+9 | -0.00733** | 0.000830 | -0.00807** |
| (0.00352) | (0.00271) | (0.00325) | |
| Rel Timet+10 | -0.00601* | -0.00332 | -0.00607** |
| (0.00363) | (0.00230) | (0.00260) | |
| Rel Timet+11 | -0.00540 | -0.00123 | -0.00460 |
| (0.00331) | (0.00240) | (0.00382) | |
| Rel Timet+12 | -0.00416 | 0.00103 | -0.00398 |
| (0.00389) | (0.00269) | (0.00371) | |
| Rel Timet+13 | 0.00219 | -0.000180 | 0.00292 |
| (0.00359) | (0.00291) | (0.00356) | |
| Rel Timet+14 | -0.00446 | -0.00351 | -0.00498* |
| (0.00327) | (0.00225) | (0.00282) | |
| Rel Timet+15 | -0.00542* | -0.00336 | -0.00326 |
| (0.00310) | (0.00247) | (0.00320) | |
| Rel Timet+16 | -0.00847** | 0.00149 | -0.00883*** |
| (0.00348) | (0.00301) | (0.00296) | |
| Rel Timet+17 | -0.00313 | -0.00310 | 0.000146 |
| (0.00345) | (0.00247) | (0.00363) | |
| Rel Timet+18 | -0.00362 | 0.00107 | -0.00136 |
| (0.00410) | (0.00254) | (0.00351) | |
| Rel Timet+19 | -0.00613* | -0.00434** | -0.00537 |
| (0.00316) | (0.00214) | (0.00340) | |
| Rel Timet+20 | -0.00217 | -0.000434 | -6.57e-05 |
| (0.00398) | (0.00237) | (0.00444) | |
| Market Return | 1.093*** | 1.028*** | |
| (0.0396) | (0.0322) | ||
| DGTW Return | 0.215*** | ||
| (0.0147) | |||
| Constant | 0.00592** | 0.00249 | 0.0158*** |
| (0.00273) | (0.00164) | (0.00256) | |
| N | 5,646 | 11,292 | 5,646 |
| R-squared | 0.196 | 0.120 | 0.087 |
Bootstrapped standard errors in parentheses.
*** p<0.01
** p<0.05
* p<0.1.