Month	2003-2007				2008-2012
Month	CAR	StdDev	t-stat	Size	CAR	StdDev	t-stat	Size
12	−0.036***	0.128	−4.291	231	−0.115***	0.111	−9.670	87
24	−0.185***	0.147	−19.215	231	−0.203***	0.088	−18.064	61
36	−0.258***	0.162	−24.248	231	−0.309***	0.140	−13.057	35