Mean

Std Dev.

Med

Min

Max

t-Value

BHAR[t + 1, t + 36]

−10.1

0.558

−15.9

−109.1

131.8

−1.58

BHAR[t + 1, t + 48]

−23.5***

0.653

−29.4

−125.0

158.9

−2.95

BHAR[t + 1, t + 60]

−13.9

0.707

−9.5

−164.9

149.8

−1.4

Rolling BHAR[t + 1, t + 36]

−13.7***

0.425

−15.9

−93.9

150.4

−6.06