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Suntop Corp. announced at Time t that it was acquiring Roofing Strategies. There were no other announcements affecting either firm. Suntop's stock had daily returns
Suntop Corp. announced at Time t that it was acquiring Roofing Strategies. There were no other announcements affecting either firm. Suntop's stock had daily returns of +.1, +0, .5, .2, +.1 for Timet 2 to Timet + 2, respectively. The daily returns on the market were .1, +.2, +.3, .2, and +.2 for Timet 2 to Timet + 2, respectively. What is the cumulative abnormal return for these five days?
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.5
.8
.9
.3
.7
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