[Retracted] M&A Short-Term Performance Based on Elman Neural Network Model: Evidence from 2006 to 2019 in China

Table 6

Annual distribution of research samples (1302) and cumulative average abnormal return.

Year	2006–2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019	06–19
Number	18	25	32	34	56	99	183	299	237	151	131	37	1302
CAR (%)	45.21	31.02	26.90	13.91	8.88	24.30	26.18	28.25	8.84	−3.51	−3.45	12.36	14.45
Announcement day (%)	5.49	6.91	7.15	4.03	3.54	7.86	7.43	4.39	3.12	0.15	−0.27	3.84	3.86
Next day of announcement (%)	4.36	2.67	1.59	1.99	1.07	1.35	1.02	0.86	1.59	0.74	0.64	3.05	3.08