Research Article
A Study of Network Negative News Based on Behavioral Finance Analysis of Abnormal Fluctuation of Stock Price
Table 3
Cumulative abnormal return.
| Time (day) | Average | Cumulative abnormal return (CAR) |
| T − 10 | 0.0030 | 0.6510 | T − 9 | 0.0004 | 0.0869 | T − 8 | 0.0011 | 0.2446 | T − 7 | 0.0037 | 0.8022 | T − 6 | 0.0013 | 0.2877 | T − 5 | 0.0005 | 0.1007 | T − 4 | −0.0002 | −0.0523 | T − 3 | 0.0010 | 0.2182 | T − 2 | 0.0018 | 0.3833 | T − 1 | 0.0003 | 0.0655 | T | −0.0025 | −0.5413 | T + 1 | −0.0051 | −1.1075 | T + 2 | −0.0044 | −0.9572 | T + 3 | −0.0017 | −0.3599 | T + 4 | 0.0036 | 0.7827 | T + 5 | −0.0009 | −0.2017 | T + 6 | 0.0030 | 0.4558 | T + 7 | 0.0036 | 0.7765 | T + 8 | −0.0009 | −0.1967 | T + 9 | −0.0034 | −0.7320 | T + 10 | −0.0003 | −0.0723 |
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