t | acquirers | targets | ||||
mean | t-statistics | p-statistics | mean | t-statistics | p-statistics | |
−30 | 0.0024 | (1.2863) | (0.1988) | 0.0028 | (1.5866) | (0.1130) |
−29 | −0.0005 | (−0.3062) | (0.7596) | −0.0043** | (−2.5285) | (0.0117) |
−28 | 0.0009 | (0.4784) | (0.6325) | −0.0028 | (−1.4544) | (0.1463) |
−27 | 0.0009 | (0.4371) | (0.6622) | 0.0025 | (1.3650) | (0.1727) |
−26 | −0.0015 | (−1.0823) | (0.2796) | 0.0028 | (1.3264) | (0.1851) |
−25 | 0.0014 | (0.6133) | (0.5399) | 0.0020 | (1.0717) | (0.2842) |
−24 | 0.0004 | (0.2196) | (0.8263) | 0.0001 | (0.0389) | (0.9690) |
−23 | −0.0008 | (−0.4702) | (0.6384) | 0.0015 | (0.8030) | (0.4222) |
−22 | −0.0030* | (−1.8709) | (0.0619) | 0.0003 | (0.1833) | (0.8546) |
−21 | 0.0023 | (1.4037) | (0.1609) | 0.0003 | (0.1982) | (0.8430) |
−20 | −0.0003 | (−0.1726) | (0.8630) | −0.0015 | (−0.7648) | (0.4446) |
−19 | −0.0003 | (−0.1680) | (0.8666) | 0.0030 | (1.4654) | (0.1432) |
−18 | −0.0006 | (−0.3679) | (0.7131) | 0.0014 | (0.7349) | (0.4626) |
−17 | −0.0001 | (−0.0481) | (0.9617) | −0.0030* | (−1.6849) | (0.0924) |
−16 | 0.0009 | (0.4923) | (0.6227) | 0.0050*** | (2.8605) | (0.0044) |
−15 | −0.0013 | (−0.8352) | (0.4039) | 0.0011 | (0.6177) | (0.5369) |
−14 | 0.0019 | (1.0652) | (0.2872) | 0.0037 | (1.4277) | (0.1538) |
−13 | 0.0003 | (0.1783) | (0.8586) | 0.0018 | (0.8657) | (0.3869) |
−12 | −0.0025 | (−1.4720) | (0.1416) | 0.0034** | (2.0657) | (0.0392) |
−11 | −0.0016 | (−0.9706) | (0.3322) | 0.0055** | (2.5617) | (0.0106) |
−10 | −0.0008 | (−0.5350) | (0.5928) | 0.0028 | (1.4586) | (0.1451) |
−9 | −0.0004 | (−0.2579) | (0.7966) | 0.0016 | (0.8136) | (0.4161) |
−8 | 0.0005 | (0.3135) | (0.7540) | 0.0058*** | (3.0244) | (0.0026) |
−7 | 0.0011 | (0.5728) | (0.5670) | 0.0035** | (1.9971) | (0.0462) |
−6 | 0.0003 | (0.1411) | (0.8878) | 0.0033* | (1.7394) | (0.0824) |
−5 | −0.0007 | (−0.4915) | (0.6232) | 0.0085*** | (4.2072) | (0.0000) |
−4 | 0.0021 | (1.0513) | (0.2936) | 0.0072*** | (3.9853) | (0.0001) |
−3 | −0.0011 | (−0.5590) | (0.5764) | 0.0078*** | (3.8933) | (0.0001) |
−2 | 0.0001 | (0.0338) | (0.9731) | 0.0104*** | (4.9772) | (0.0000) |
−1 | 0.0012 | (0.7695) | (0.4419) | 0.0190*** | (7.5616) | (0.0000) |
0 | −0.0097*** | (−3.9065) | (0.0001) | 0.1391*** | (17.2129) | (0.0000) |
1 | −0.0007 | (−0.3923) | (0.6950) | 0.0278*** | (5.7712) | (0.0000) |
2 | −0.0004 | (−0.1920) | (0.8478) | −0.0016 | (−1.1764) | (0.2398) |
3 | 0.0003 | (0.1986) | (0.8426) | 0.0008 | (0.5355) | (0.5925) |
4 | −0.0005 | (−0.2958) | (0.7675) | −0.0026** | (−2.1146) | (0.0348) |