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

Table 4

AR, CAR, and t-statistics for public utilities.

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	−0.22	−0.39	−0.22	−0.39	6	−0.30	−0.52	−3.48	−1.74
−4	0.22	0.38	−0.01	−0.01	7	−0.77	−1.33	−4.26	−2.04
−3	−0.25	−0.43	−0.25	−0.25	8	0.18	0.32	−4.07	−1.88
−2	−0.50	−0.87	−0.76	−0.66	9	−0.27	−0.47	−4.34	−1.94
−1	−0.26	−0.44	−1.01	−0.79	10	0.52	0.90	−3.82	−1.65
0	−0.07	−0.11	−1.08	−0.76	30	−0.19	−0.32	−7.56	−2.18
1	0.29	0.51	−0.79	−0.51	60	0.10	0.17	−7.13	−1.52
2	−0.29	−0.50	−1.07	−0.66	90	−0.16	−0.27	−7.32	−1.29
3	0.07	0.12	−1.00	−0.58	120	−0.55	−0.94	−6.28	−0.97
4	−2.19	−3.79	−3.20	−1.75	160	0.26	0.44	−3.16	−0.42
5	0.01	0.02	−3.18	−1.66	230	−0.73	−1.27	−8.20	−0.92