abnormal return 
The abnormal return for each stock is the betaadjusted return adjusted using the market model.


The abnormal return is the sample portfolio return minus the average return to a bootstrapped control portfolio.


The abnormal return for each event is the difference between BHRRPi and the observed compound return for the acquiring firm.


The abnormal return result indicates that the market prices the gain in liquidity.


The annualized average post ranking abnormal return of the top decile is 1.5 percent.


The abnormal return is the difference between the buyandhold returns of a SEO firm and its match firm.


The average abnormal return for the noninitiations category in the same window is 0.1 percent.


The daily stock 3 within event windows are cumulated and used to compute the cumulative abnormal return linked to the event.


The first approach is using the mean buyandhold abnormal return as an estimator of long term abnormal performance.


The dependent variable is the companies' abnormal return on the MIPS filing date and the following day.


The estimated effect on monthly abnormal return is the net abnormal return times the intramonth trades as a percentage of total position value.


The first one is to compute the cumulative abnormal return during some days around the announcement date.


The goal of this paper is to investigate the reason for the observed abnormal return pattern.


The mean announcementperiod abnormal return is 3.24 percent with a crosssectional tstatistic of 6.03.


The key focus is still on measuring the sample securities' mean and cumulative mean abnormal return around the time of an event.


The higher the R2 the greater is the variance reduction of the abnormal return, and the larger is the gain.


The magnitude of the abnormal return depends on the source of external financing.


The measures of abnormal return are described more precisely in Appendix A.


The monthly abnormal return experienced by a given stock relative to the return on its appropriate size decile was then calculated.


The market reaction to the announcement is represented by the 2 day abnormal return at days 1 and 0.

