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On November 1 4 , Thorogood Enterprises announced that the public and acrimonious battle with its current CEO had been resolved. Under the terms of

On November 14, Thorogood Enterprises announced that the public and acrimonious battle with its current CEO had been resolved. Under the terms of the deal, the CEO would step down from his position immediately. In exchange, he was given a generous severance package. Given the information below, calculate the cumulative abnormal return (CAR) around this announcement. Assume the company has an expected return equal to the market return.
Note: A negative value should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations. Round your answers to 1 decimal place.
Date Market Return (%) Company Return (%)
November 71.91.5
November 81.71.5
November 91.60.4
November 100.60.6
November 112.71.0
November 141.53.2
November 150.10.1
November 160.92.1
November 171.60.3
November 181.60.0
November 211.70.2

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