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