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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,

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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 expected return equal to the market return. (Negative amounts should be indicated by a minus sign Leave no cells blank- be certain to enter "O" wherever required. Round your answers to 1 decimal places.) announcement. Assume the company has an Market Company Return (%) Return (%) Date 0.6 0.6 -0.1 -0.3 0.8 0.7 0.6 1.8 0.6 0.1 0.9 0.7 -0.7 0.8 11/8 11/9 2.3 0.1 1.2 0.8 0.2 Days from Announcement Daily Abnormal Return Cumulative Abnormal Return -2 -1

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