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my Event Study Cumulative Average Abnormal Returns graph. Talk about market efficiency theory ( how efficient the market is using the market efficiency hypothesis)? Have

my Event Study Cumulative Average Abnormal Returns graph.

Talk about market efficiency theory ( how efficient the market is using the market efficiency hypothesis)?

Have the stock prices of of my chosen company changed around the news announced outcome?

11 day Cumulative Average Abnormal Returns for BC 8.00% 6.00% 4.00% 2.00% 0.00% t=-5 t=4 --3 t=-2 -1 = t=1 t=2 =3 t=4 t=5 -2.00% -4.00% -6.00% -8.00% -10.00% 11 day Cumulative Average Abnormal Returns for BC 8.00% 6.00% 4.00% 2.00% 0.00% t=-5 t=4 --3 t=-2 -1 = t=1 t=2 =3 t=4 t=5 -2.00% -4.00% -6.00% -8.00% -10.00%

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