Average CAR 0.01 -0.01 -0.02 -0.03 -0.04 -0.05 -0.06 -100 0 -50 0 Days relative to downgrade date The above event study results are consistent with (mark all that apply): ☐ market under-reaction 000 market efficiency market over-reaction information leakage 50
Average CAR 0.01 -0.01 -0.02 -0.03 -0.04 -0.05 -0.06 -100 0 -50 0 Days relative to downgrade date The above event study results are consistent with (mark all that apply): ☐ market under-reaction 000 market efficiency market over-reaction information leakage 50
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![Average CAR
0.01
-0.01
-0.02
-0.03
-0.04
-0.05
-0.06
-100
0
-50
0
Days relative to downgrade date
The above event study results are consistent with (mark all that apply):
☐ market under-reaction
000
market efficiency
market over-reaction
information leakage
50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1ad428d1-d72c-4b86-8f12-941d5ec93ceb%2F1e06f2be-96c2-400a-bb1e-0355fa569b0b%2Fb0851ds_processed.png&w=3840&q=75)
Transcribed Image Text:Average CAR
0.01
-0.01
-0.02
-0.03
-0.04
-0.05
-0.06
-100
0
-50
0
Days relative to downgrade date
The above event study results are consistent with (mark all that apply):
☐ market under-reaction
000
market efficiency
market over-reaction
information leakage
50
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