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

Table 2

AR, CAR, and t-statistics for healthcare.

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	−0.73	−1.29	−0.73	−1.29	6	3.64	6.46	18.84	9.65
−4	0.22	0.39	−0.51	−0.64	7	1.60	2.85	20.45	10.06
−3	−0.27	−0.49	−0.78	−0.80	8	−3.05	−5.42	17.39	8.25
−2	−0.16	−0.29	−0.94	−0.84	9	−3.87	−6.87	13.52	6.20
−1	1.02	1.82	0.08	0.06	10	−1.30	−2.31	12.22	5.42
0	1.54	2.73	1.62	1.17	30	−3.00	−5.32	7.41	2.19
1	4.36	7.74	5.98	4.01	60	−0.94	−1.67	12.69	2.77
2	−2.75	−4.88	3.23	2.02	90	0.35	0.62	7.33	1.33
3	2.36	4.18	5.58	3.30	120	−0.06	−0.10	11.35	1.79
4	6.47	11.48	12.05	6.76	160	0.10	0.18	8.50	1.17
5	3.15	5.59	15.20	8.13	230	−0.22	−0.39	2.68	0.31