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Southern Goods announced at Time t that it was replacing its CEO, and no other announcements affecting the firm. The stock had daily returns of
Southern Goods announced at Time t that it was replacing its CEO, and no other announcements affecting the firm. The stock had daily returns of -.3, +.2, -.2, -.1, +.3 for Timet - 2to Timet + 2, respectively. The daily returns on the market were -.4, +.2, -.4, -.2, and +.2 for Timet - 2to Timet + 2, respectively. What is the cumulative abnormal return for these five days?
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