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

Table 8

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

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	−0.52	−0.94	−0.52	−0.94	6	0.62	1.13	3.14	1.65
−4	0.15	0.27	−0.37	−0.47	7	−0.81	−1.48	2.33	1.18
−3	−0.25	−0.45	−0.61	−0.64	8	0.31	0.56	2.64	1.28
−2	4.88	8.88	4.27	3.88	9	−0.71	−1.30	1.93	0.91
−1	−0.42	−0.76	3.85	3.14	10	0.63	1.14	2.55	1.16
0	0.79	1.44	4.64	3.45	30	−0.77	−1.40	−1.66	−0.50
1	0.75	1.37	5.40	3.72	60	−0.51	−0.92	−2.76	−0.62
2	−0.89	−1.61	4.51	2.90	90	0.58	1.05	−0.83	−0.15
3	0.32	0.58	4.83	2.93	120	−0.10	−0.18	−7.76	−1.26
4	−0.70	−1.28	4.13	2.38	160	0.62	1.13	−3.76	−0.53
5	−1.61	−2.93	2.52	1.38	230	−0.18	−0.32	−10.34	−1.23