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

Table 9

AR, CAR, and t-statistics for information technology industry.

Date	AR (%)	t-stat	CAR (%)	t-stat	Date	AR (%)	t-stat	CAR (%)	t-stat
−5	−0.02	−0.05	−0.02	−0.05	6	−1.28	−2.62	−0.91	−0.54
−4	0.03	0.06	0.01	0.01	7	−0.71	−1.44	−1.61	−0.92
−3	0.41	0.83	0.41	0.49	8	0.93	1.91	−0.68	−0.37
−2	−0.10	−0.20	0.31	0.32	9	−0.23	−0.47	−0.91	−0.48
−1	0.22	0.44	0.53	0.48	10	0.59	1.20	−0.33	−0.17
0	0.44	0.90	0.97	0.81	30	0.81	1.66	−1.15	−0.39
1	−0.20	−0.41	0.77	0.59	60	−0.15	−0.30	−6.61	−1.66
2	1.02	2.08	1.78	1.29	90	1.03	2.10	−6.51	−1.36
3	−0.27	−0.55	1.51	1.03	120	−0.03	−0.06	−10.14	−1.85
4	−0.95	−1.94	0.56	0.36	160	0.45	0.91	−2.90	−0.46
5	−0.19	−0.38	0.37	0.23	230	−1.08	−2.20	−8.73	−1.16