Research Article
A Study of Network Negative News Based on Behavioral Finance Analysis of Abnormal Fluctuation of Stock Price
Table 2
Descriptive analysis of abnormal returns.
| Time (day) | Number of samples | Maximum | Minimum | Average | Standard deviation |
| T − 10 | 218 | 0.1433 | −0.0771 | 0.0030 | 0.0259 | T − 9 | 218 | 0.1082 | −0.0989 | 0.0004 | 0.0285 | T − 8 | 218 | 0.1566 | −0.1155 | 0.0011 | 0.0262 | T − 7 | 218 | 0.1339 | −0.0758 | 0.0037 | 0.0278 | T − 6 | 218 | 0.1031 | −0.1157 | 0.0013 | 0.0243 | T − 5 | 218 | 0.1102 | −0.1155 | 0.0005 | 0.0280 | T − 4 | 218 | 0.1235 | −0.1155 | −0.0002 | 0.0285 | T − 3 | 218 | 0.0968 | −0.1026 | 0.0010 | 0.0291 | T − 2 | 218 | 0.1726 | −0.1051 | 0.0018 | 0.0295 | T − 1 | 218 | 0.1179 | −0.1016 | 0.0003 | 0.0305 | T | 218 | 0.0746 | −0.1035 | −0.0025 | 0.0308 | T + 1 | 218 | 0.0953 | −0.0925 | −0.0051 | 0.0304 | T + 2 | 218 | 0.1000 | −0.0782 | −0.0044 | 0.0307 | T + 3 | 218 | 0.1051 | −0.0685 | −0.0017 | 0.0293 | T + 4 | 218 | 0.1080 | −0.0912 | 0.0036 | 0.0307 | T + 5 | 218 | 0.0899 | −0.1148 | −0.0009 | 0.0272 | T + 6 | 218 | 0.1179 | −0.0800 | 0.0030 | 0.0277 | T + 7 | 218 | 0.1151 | −0.1150 | 0.0036 | 0.0271 | T + 8 | 218 | 0.0999 | −0.1264 | −0.0009 | 0.0260 | T + 9 | 218 | 0.1001 | −0.0942 | −0.0034 | 0.0261 | T + 10 | 218 | 0.0963 | −0.0760 | −0.0003 | 0.0238 |
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