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this tables below is CAARs for event windows [-15,0], [+1,+15] and [15,+15] together with their t-statistics and help me to indication of their statistical significance.
this tables below is CAARs for event windows [-15,0], [+1,+15] and [15,+15] together with their t-statistics and help me to indication of their statistical significance.
Obs. | [-15,0] | [+1,+15] | [15,+15] | |||
June/July event windows | All | 356 | -0.0009 | -0.0007 | -0.0016 | |
(-0.3045) | (-0.275) | (-0.4589) | ||||
(a) | Past winners >0 | 252 | 0.0053 | -0.0030 | 0.0023 | |
(1.6188) | (-1.1007) | (0.622) | ||||
Past losers <0 | 104 | -0.0161** | 0.0050 | -0.0111 | ||
(-2.3562) | (1.0258) | (-1.406) | ||||
(b) | Past winners in up-markets >0 &>0 | 206 | 0.0030 | -0.0036 | -0.0003 | |
(0.9206) | (-1.3979) | (-0.0877) | ||||
Past winners in down-markets >0 &<0 | 46 | 0.0159 | -0.0005 | 0.0159 | ||
(1.4698) | (-0.047) | (1.6106) | ||||
Past losers in up-markets <0 &>0 | 50 | -0.0248 | 0.0042 | -0.0186 | ||
(-2.5347) | (0.668) | (-1.8503) | ||||
Past losers in down-markets <0 &<0 | 54 | -0.0081 | 0.0058 | -0.1774 | ||
(-0.8523) | (0.7739) | (-6.3816) |
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