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Ross Co. Westerfield, Inc., and Jordan Company announced a new agreement to market their respective products in China on July 18, February 12, and October
Ross Co. Westerfield, Inc., and Jordan Company announced a new agreement to market their respective products in China on July 18, February 12, and October 7, respectively. Given the information below, calculate the cumulative abnormal return (CAR) for these stocks as a group. Assume all companies have an expected return equal to the market return. (A negative value should be indicated by a minus sign. Leave no cells blank-be certain to enter "O" wherever required. Do not round intermediate calculations. Round your answers to one decimal place.) Ross Co. Westerfield, Inc. Markst Company Date Return Return Date Market Return Company Return Date ok July 12 Jordan Company Market Return Company Return --3 -,4 Feb 8 Oct 1 2.2 July 13 2.0 1.0 .3 Feb 9 Oct 2 2.1 1.0 July 16 -.4 .7 Feb 10 Oct 3 1.3 July 17 .6 -12 Feb 11 2.9 Oct 6 -1 -.2 July 18 2.3 Feb 12 .1 Oct 7 -2 July 19 -2.7 1 Feb 15 1.1 2.1 Oct 1.1 July 20 -9 -1.1 Feb 26 .6 Oct 9 -.5 -.5 July 23 .4 Feb 17 ences July 24 2.0 Feb 18 2.4 4 Oct 10 Oct 13 Abnormal returns (R-R Days from Ross announcement Wfield 44 -3 2 -1 0 2 3 4 Jordan Sum Average abnormal return Cumulative average residual
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