A Study of Network Negative News Based on Behavioral Finance Analysis of Abnormal Fluctuation of Stock Price

Table 4

T test of abnormal return rate.

Time (day)	Means (AR)	Significance	T value
T − 2	0.0018	0.382	0.876
T − 1	0.0003	0.880	0.151
T	−0.0025	0.184	−1.333
T + 1	−0.0051	0.015	−2.441
T + 2	−0.0044	0.018	−2.390
T + 3	−0.0017	0.350	−0.936
T + 4	0.0036	0.062	1.878

, indicate significance at 0.05 and 0.1 levels, respectively.