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

Table 10

AR, CAR, and t-statistics for media industry.

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	0.25	0.43	0.25	0.43	6	0.31	0.53	−3.79	−1.86
−4	0.37	0.62	0.62	0.75	7	1.07	1.82	−2.72	−1.28
−3	−0.20	−0.34	0.42	0.41	8	0.56	0.95	−2.16	−0.98
−2	−0.40	−0.69	0.02	0.01	9	−0.07	−0.11	−2.22	−0.97
−1	0.02	0.03	0.04	0.03	10	0.38	0.65	−1.84	−0.78
0	−1.39	−2.35	−1.35	−0.94	30	0.07	0.12	−6.34	−1.79
1	−0.65	−1.10	−2.00	−1.28	60	0.15	0.25	−5.64	−1.18
2	−0.26	−0.44	−2.26	−1.35	90	−0.80	−1.36	1.52	0.26
3	−0.92	−1.56	−3.18	−1.80	120	0.09	0.16	−2.76	−0.42
4	−0.51	−0.87	−3.69	−1.98	160	0.16	0.28	1.44	0.19
5	−0.41	−0.69	−4.10	−2.10	230	−0.19	−0.32	−5.10	−0.56