| windows | acquirers | targets | |||||
| (−30, +30) | (−10, +10) | (−5, +5) | (−30, +30) | (−10, +10) | (−5, +5) | ||
| mean | −0.0159 | −0.0104 | −0.0092 | 0.2514*** | 0.2333*** | 0.2177*** | |
| t-statistics | (−0.8740) | (−1.0910) | (−1.3666) | (16.4000) | (22.1433) | (22.9245) | |
| p-statistics | (0.3825) | (0.2757) | (0.1723) | (0.0000) | (0.0000) | (0.0000) | |
| N | 583 | 583 | 583 | 583 | 583 | 583 | |