Research Article
Chinese Stock Market’s Reaction to COVID-19 in the Short and Long Run
Table 7
AR, CAR, and t-statistics for finance industry.
| Date | AR (%) | t-stat | CAR (%) | t-stat | Date | AR (%) | t-stat | CAR (%) | t-stat |
| −5 | 0.05 | 0.10 | 0.05 | 0.10 | 6 | −0.79 | −1.40 | −0.57 | −0.29 | −4 | −0.07 | −0.13 | −0.02 | −0.02 | 7 | −0.91 | −1.62 | −1.48 | −0.73 | −3 | 0.07 | 0.12 | 0.05 | 0.05 | 8 | 0.08 | 0.14 | −1.41 | −0.67 | −2 | −0.44 | −0.78 | −0.39 | −0.34 | 9 | −0.87 | −1.55 | −2.28 | −1.04 | −1 | 0.11 | 0.19 | −0.28 | −0.22 | 10 | 0.44 | 0.79 | −1.83 | −0.81 | 0 | 0.19 | 0.35 | −0.09 | −0.06 | 30 | 0.01 | 0.02 | −2.89 | −0.85 | 1 | 0.24 | 0.43 | 0.16 | 0.11 | 60 | −0.47 | −0.84 | −3.17 | −0.69 | 2 | −0.05 | −0.09 | 0.11 | 0.07 | 90 | −0.89 | −1.57 | −3.21 | −0.58 | 3 | 0.30 | 0.53 | 0.41 | 0.24 | 120 | −0.48 | −0.85 | −7.34 | −1.16 | 4 | 0.06 | 0.11 | 0.47 | 0.26 | 160 | −0.22 | −0.40 | −8.86 | −1.22 | 5 | −0.25 | −0.45 | 0.22 | 0.12 | 230 | 0.31 | 0.56 | −21.94 | −2.53 |
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