5. Which of the following statements about event studies is/are true? (a) Event time is measured relative to the date on which the event (e.g. the stock split) is first announced to the market. (b) CAAR stands for Cumulative Average Abnormal Return. (c) Abnormal returns are always measured as the return over and above the Capital Asset Pricing Model. (a) only. (b) only. (c) only. (a) and (b) only. (a) and (c) only. (a), (b) and (c)