|
| Event periods | ||
| t + 3 | t + 6 | t + 18 | |
| N | 24 | 23 | 18 |
| BHAAR | −3.56% | −3.37% | −5.40% |
| Min | −59.91% | −63.46% | −77.97% |
| Max | 69.13% | 89.42% | 106.36% |
| SD | 28.00% | 39.06% | 42.53% |
| Median | −5.35% | −3.97% | −10.07% |
| % > 0 | 37.50% | 39.13% | 44.44% |
| t-value | −0.6224 | −0.4143 | −0.5388 |
| Significance level | n.s. | n.s. | n.s. |