Month | 2003-2007 | 2008-2012 | ||||||
CAR | StdDev | t-stat | Size | CAR | StdDev | t-stat | Size | |
12 | 0.031*** | 0.128 | 2.985 | 152 | 0.194*** | 0.142 | 9.578 | 49 |
24 | −0.046*** | 0.130 | −4.313 | 150 | 0.317*** | 0.101 | 19.586 | 39 |
36 | 0.075*** | 0.186 | 4.880 | 147 | 0.431*** | 0.091 | 24.970 | 28 |