Chinese Stock Market’s Reaction to COVID-19 in the Short and Long Run

Table 1

AR, CAR, and t-statistics for China’s A-stock.

Date t	AR (%)	t-stat	CAR (%)	t-stat	Date t	AR (%)	t-stat	CAR (%)	t-stat
−5	0.24	0.20	0.24	0.20	6	1.59	1.37	−11.20	−2.78
−4	0.05	0.04	0.29	0.18	7	0.57	0.49	−10.64	−2.54
−3	−0.75	−0.65	−0.46	−0.23	8	0.77	0.67	−9.87	−2.27
−2	−0.91	−0.78	−1.37	−0.59	9	0.00	0.00	−9.87	−2.19
−1	−0.26	−0.22	−1.63	−0.63	10	0.70	0.60	−9.17	−1.97
0	−1.13	−0.97	−2.76	−0.97	30	2.38	2.05	1.83	0.26
1	0.05	0.04	−2.71	−0.88	60	−0.64	−0.55	−5.37	−0.57
2	−2.69	−2.32	−5.40	−1.64	90	−0.68	−0.58	−6.97	−0.61
3	−8.38	−7.21	−13.78	−3.95	120	1.34	1.15	−1.06	−0.08
4	−0.17	−0.15	−13.96	−3.80	160	−1.85	−1.59	−1.47	−0.10
5	1.16	1.00	−12.80	−3.32	220	−0.36	−0.31	−6.90	−0.39