Table 9.
CAARs and AARs
| Date | AAR | CAAR | P-value | Date | AAR | CAAR | P-value |
|---|---|---|---|---|---|---|---|
| 0 | –0.008825 | –0.008825 | 0.8799 | 31 | –0.023166 | –0.099336 | 0.0801 |
| 1 | 0.006945 | –0.001880 | 0.9743 | 32 | –0.024118 | –0.097454 | 0.0984 |
| 2 | –0.008174 | –0.010054 | 0.8634 | 33 | –0.027085 | –0.111540 | 0.0563 |
| 3 | 0.000210 | –0.009843 | 0.8662 | 34 | 0.012746 | –0.098794 | 0.0909 |
| 4 | 0.000401 | –0.009441 | 0.8716 | 35 | –0.039362 | –0.138156 | 0.0180 |
| 5 | –0.014240 | –0.023681 | 0.6853 | 36 | –0.028282 | –0.166438 | 0.0044 |
| 6 | 0.001975 | –0.021706 | 0.7103 | 37 | 0.015208 | –0.151229 | 0.0096 |
| 7 | –0.007730 | –0.029436 | 0.6144 | 38 | –0.013933 | –0.165163 | 0.0047 |
| 8 | 0.006857 | –0.022579 | 0.6992 | 39 | –0.015270 | –0.180433 | 0.0020 |
| 9 | 0.000077 | –0.022501 | 0.7002 | 40 | 0.001047 | –0.179386 | 0.0021 |
| 10 | 0.008932 | –0.013568 | 0.8164 | 41 | 0.045349 | –0.134036 | 0.0218 |
| 11 | 0.000866 | –0.012702 | 0.8279 | 42 | –0.013051 | –0.147087 | 0.0118 |
| 12 | –0.004336 | –0.017039 | 0.7706 | 43 | 0.022039 | –0.125048 | 0.0323 |
| 13 | 0.006717 | –0.010321 | 0.8598 | 44 | 0.011377 | –0.113670 | 0.0517 |
| 14 | 0.002563 | –0.007757 | 0.8943 | 45 | –0.013144 | –0.126815 | 0.0300 |
| 15 | –0.000732 | –0.008490 | 0.8844 | 46 | –0.004186 | –0.131001 | 0.0249 |
| 16 | 0.000650 | –0.007839 | 0.8932 | 47 | –0.010855 | –0.141856 | 0.0152 |
| 17 | 0.004284 | –0.003554 | 0.9515 | 48 | 0.017210 | –0.124646 | 0.0329414 |
| 18 | –0.004797 | –0.008351 | 0.8863 | 49 | –0.004122 | –0.128768 | 0.0275715 |
| 19 | 0.003949 | –0.004402 | 0.9399 | 50 | 0.003026 | –0.125742 | 0.0314330 |
| 20 | 0.000155 | –0.004246 | 0.9420 | 51 | 0.006755 | –0.118987 | 0.0417539 |
| 21 | –0.002790 | –0.007036 | 0.9041 | 52 | –0.002716 | –0.121703 | 0.0373019 |
| 22 | –0.007803 | –0.014839 | 0.7995 | 53 | 0.015252 | –0.106451 | 0.0685370 |
| 23 | –0.000006 | –0.014845 | 0.7994 | 54 | –0.012059 | –0.118510 | 0.0425796 |
| 24 | –0.000181 | –0.015027 | 0.7970 | 55 | 0.008750 | –0.109760 | 0.0603701 |
| 25 | –0.000349 | –0.015377 | 0.7924 | 56 | –0.001792 | –0.111553 | 0.0562932 |
| 26 | –0.024542 | –0.039920 | 0.4945 | 57 | 0.002406 | –0.109146 | 0.0618207 |
| 27 | –0.015932 | –0.155852 | 0.0089 | 58 | –0.003043 | –0.112190 | 0.0549011 |
| 28 | 0.016857 | –0.138995 | 0.0249 | 59 | –0.016089 | –0.128279 | 0.0281667 |
| 29 | –0.011265 | –0.140260 | 0.0138 | 60 | –0.001063 | –0.129342 | 0.0268878 |
| 30 | 0.013091 | –0.137169 | 0.0294 | 61 | 0.010538 | –0.118803 | 0.0420704 |