Spreadsheet: 547197d1510390096-event-study-varying-sample-size-per-event-window-statistically-allowed-event-study_example-file
Sheet: Example CAR (0,2 Test)

CAR (0,2)
H0:CAAR=0 |  |  |  |  | Wilcoxon Rank Test
Company | Date | CAR (0,2) | (CAR-CAAR)^2 |  | Positive | Absolute | Rank | Signed Rank
1 | 2016-03-09 00:00:00 | 0.05162558879236243 | 0.003169627140862149 |  | 1 | 0.05162558879236243 | 76 | 76
2 | 2015-11-23 00:00:00 | 0.04963174864907621 | 0.00294909836538531 |  | 1 | 0.04963174864907621 | 74 | 74
3 | 2017-02-08 00:00:00 | 0.04192858358086755 | 0.002171787090911936 |  | 1 | 0.04192858358086755 | 73 | 73
4 | 2017-02-06 00:00:00 | 0.03365165696673623 | 0.001468844710623247 |  | 1 | 0.03365165696673623 | 70 | 70
5 | 2016-09-27 00:00:00 | 0.03013458882711246 | 0.001211627619173508 |  | 1 | 0.03013458882711246 | 69 | 69
6 | 2016-04-20 00:00:00 | 0.02893324188958651 | 0.00112943682377215 |  | 1 | 0.02893324188958651 | 68 | 68
7 | 2016-11-22 00:00:00 | 0.02797002550940056 | 0.001065622801081136 |  | 1 | 0.02797002550940056 | 66 | 66
8 | 2017-01-25 00:00:00 | 0.02663733795511426 | 0.0009803906760969972 |  | 1 | 0.02663733795511426 | 63 | 63
9 | 2017-01-30 00:00:00 | 0.02262434976026115 | 0.0007451918713853008 |  | 1 | 0.02262434976026115 | 57 | 57
10 | 2015-07-27 00:00:00 | 0.02038903013366229 | 0.0006281481086258043 |  | 1 | 0.02038903013366229 | 52 | 52
11 | 2017-01-03 00:00:00 | 0.01948812595570407 | 0.0005838012247943989 |  | 1 | 0.01948812595570407 | 51 | 51
12 | 2017-03-20 00:00:00 | 0.01915364951432539 | 0.0005677498738400011 |  | 1 | 0.01915364951432539 | 50 | 50
13 | 2016-10-31 00:00:00 | 0.0183727449795031 | 0.000531145676271745 |  | 1 | 0.0183727449795031 | 49 | 49
14 | 2016-08-19 00:00:00 | 0.01827502710812462 | 0.0005266510960691326 |  | 1 | 0.01827502710812462 | 48 | 48
15 | 2016-03-17 00:00:00 | 0.01604623286177201 | 0.0004293219561798674 |  | 1 | 0.01604623286177201 | 45 | 45
16 | 2016-06-13 00:00:00 | 0.01453212666374881 | 0.0003688696530467115 |  | 1 | 0.01453212666374881 | 39 | 39
17 | 2016-10-12 00:00:00 | 0.01338865381195704 | 0.0003262541506413989 |  | 1 | 0.01338865381195704 | 37 | 37
18 | 2017-01-12 00:00:00 | 0.01320389811639738 | 0.0003196139833065448 |  | 1 | 0.01320389811639738 | 36 | 36
19 | 2016-08-15 00:00:00 | 0.01201825530900254 | 0.0002786264782371412 |  | 1 | 0.01201825530900254 | 32 | 32
20 | 2016-08-12 00:00:00 | 0.01114980741821521 | 0.0002503882275499444 |  | 1 | 0.01114980741821521 | 29 | 29
21 | 2015-11-30 00:00:00 | 0.0103815177942473 | 0.0002266641883431376 |  | 1 | 0.0103815177942473 | 26 | 26
22 | 2015-10-28 00:00:00 | 0.01013420327542761 | 0.0002192785292702419 |  | 1 | 0.01013420327542761 | 25 | 25
23 | 2016-11-25 00:00:00 | 0.005738504874311183 | 0.0001084171955281651 |  | 1 | 0.005738504874311183 | 14 | 14
24 | 2017-01-03 00:00:00 | 0.003827201644653691 | 7.226792927571527e-05 |  | 1 | 0.003827201644653691 | 10 | 10
25 | 2016-09-06 00:00:00 | 0.003713690705730573 | 7.0350888630492e-05 |  | 1 | 0.003713690705730573 | 9 | 9
26 | 2017-02-21 00:00:00 | 0.002639581119861786 | 5.348631794104336e-05 |  | 1 | 0.002639581119861786 | 5 | 5
27 | 2016-06-27 00:00:00 | 0.002359619405370952 | 4.946973341880305e-05 |  | 1 | 0.002359619405370952 | 4 | 4
28 | 2016-07-25 00:00:00 | -0.000860923393661216 | 1.453843182601623e-05 |  | -1 | 0.000860923393661216 | 1 | -1
29 | 2015-12-23 00:00:00 | -0.00188361600291177 | 7.785422238762256e-06 |  | -1 | 0.00188361600291177 | 2 | -2
30 | 2017-03-29 00:00:00 | -0.00202507040677917 | 7.016048978231681e-06 |  | -1 | 0.00202507040677917 | 3 | -3
31 | 2016-02-18 00:00:00 | -0.002996883622909017 | 2.812226134741692e-06 |  | -1 | 0.002996883622909017 | 6 | -6
32 | 2016-09-06 00:00:00 | -0.003372995948660744 | 1.692228946262806e-06 |  | -1 | 0.003372995948660744 | 7 | -7
33 | 2015-07-20 00:00:00 | -0.003635659140062485 | 1.077846393640173e-06 |  | -1 | 0.003635659140062485 | 8 | -8
34 | 2016-10-05 00:00:00 | -0.003865051809280891 | 6.541592904073215e-07 |  | -1 | 0.003865051809280891 | 11 | -11
35 | 2015-11-12 00:00:00 | -0.00417197083087951 | 2.518856647064473e-07 |  | -1 | 0.00417197083087951 | 12 | -12
36 | 2016-11-18 00:00:00 | -0.004566530540494766 | 1.151810026919924e-08 |  | -1 | 0.004566530540494766 | 13 | -13
37 | 2016-03-09 00:00:00 | -0.005888438722977614 | 1.475218592142581e-06 |  | -1 | 0.005888438722977614 | 15 | -15
38 | 2017-02-21 00:00:00 | -0.005909468034481932 | 1.526744629087595e-06 |  | -1 | 0.005909468034481932 | 16 | -16
39 | 2017-03-24 00:00:00 | -0.006462966727951522 | 3.200928099000192e-06 |  | -1 | 0.006462966727951522 | 17 | -17
40 | 2016-11-14 00:00:00 | -0.006743878412698993 | 4.285005402967716e-06 |  | -1 | 0.006743878412698993 | 18 | -18
41 | 2016-07-25 00:00:00 | -0.006958912824519466 | 5.221498615507578e-06 |  | -1 | 0.006958912824519466 | 19 | -19
42 | 2017-01-25 00:00:00 | -0.00698089251127561 | 5.322431522518684e-06 |  | -1 | 0.00698089251127561 | 20 | -20
43 | 2017-02-06 00:00:00 | -0.007851889783159335 | 1.00999180925683e-05 |  | -1 | 0.007851889783159335 | 21 | -21
44 | 2015-12-14 00:00:00 | -0.008761848739448656 | 1.671170954837432e-05 |  | -1 | 0.008761848739448656 | 22 | -22
45 | 2015-11-27 00:00:00 | -0.0090776043414619 | 1.939302628960521e-05 |  | -1 | 0.0090776043414619 | 23 | -23
46 | 2015-11-02 00:00:00 | -0.009174973826979972 | 2.026008912036408e-05 |  | -1 | 0.009174973826979972 | 24 | -24
47 | 2016-09-19 00:00:00 | -0.01066698061185957 | 3.591757913297213e-05 |  | -1 | 0.01066698061185957 | 27 | -27
48 | 2016-06-06 00:00:00 | -0.01107868095358755 | 4.102182171452888e-05 |  | -1 | 0.01107868095358755 | 28 | -28
49 | 2016-02-22 00:00:00 | -0.0117586186980335 | 5.019390565914462e-05 |  | -1 | 0.0117586186980335 | 30 | -30
50 | 2016-09-09 00:00:00 | -0.01191873265830352 | 5.248828194139882e-05 |  | -1 | 0.01191873265830352 | 31 | -31
51 | 2016-07-18 00:00:00 | -0.01238961530513835 | 5.953298867156568e-05 |  | -1 | 0.01238961530513835 | 33 | -33
52 | 2016-08-01 00:00:00 | -0.01288309778941077 | 6.739170078082819e-05 |  | -1 | 0.01288309778941077 | 34 | -34
53 | 2017-02-21 00:00:00 | -0.01303346594507359 | 6.98831293738762e-05 |  | -1 | 0.01303346594507359 | 35 | -35
54 | 2016-01-19 00:00:00 | -0.01393267724692025 | 8.572582730195615e-05 |  | -1 | 0.01393267724692025 | 38 | -38
55 | 2016-10-05 00:00:00 | -0.01463299157184996 | 9.91844420254548e-05 |  | -1 | 0.01463299157184996 | 40 | -40
56 | 2015-07-14 00:00:00 | -0.01483440567320038 | 0.0001032368315758763 |  | -1 | 0.01483440567320038 | 41 | -41
57 | 2016-09-12 00:00:00 | -0.01510540234520049 | 0.000108817222717714 |  | -1 | 0.01510540234520049 | 42 | -42
58 | 2015-09-23 00:00:00 | -0.01549685475038284 | 0.0001171373679017901 |  | -1 | 0.01549685475038284 | 43 | -43
59 | 2016-02-22 00:00:00 | -0.01585944072667257 | 0.000125117373838025 |  | -1 | 0.01585944072667257 | 44 | -44
60 | 2017-02-15 00:00:00 | -0.016281981642681 | 0.0001347486516715165 |  | -1 | 0.016281981642681 | 46 | -46
61 | 2016-03-14 00:00:00 | -0.01769519491458444 | 0.0001695553464752715 |  | -1 | 0.01769519491458444 | 47 | -47
62 | 2017-02-03 00:00:00 | -0.02120552710896095 | 0.000273296250392204 |  | -1 | 0.02120552710896095 | 53 | -53
63 | 2016-05-17 00:00:00 | -0.02159551685711616 | 0.0002863427092770477 |  | -1 | 0.02159551685711616 | 54 | -54
64 | 2015-08-10 00:00:00 | -0.0224386940714894 | 0.0003155895799580116 |  | -1 | 0.0224386940714894 | 55 | -55
65 | 2015-07-08 00:00:00 | -0.02247184902608938 | 0.0003167686642105317 |  | -1 | 0.02247184902608938 | 56 | -56
66 | 2017-02-27 00:00:00 | -0.02347796512820232 | 0.0003535946346900134 |  | -1 | 0.02347796512820232 | 58 | -58
67 | 2015-11-16 00:00:00 | -0.02350049520136789 | 0.000354442458340443 |  | -1 | 0.02350049520136789 | 59 | -59
68 | 2016-05-16 00:00:00 | -0.02351837164845601 | 0.000355115884855796 |  | -1 | 0.02351837164845601 | 60 | -60
69 | 2015-07-27 00:00:00 | -0.02363867682003102 | 0.0003596645442998657 |  | -1 | 0.02363867682003102 | 61 | -61
70 | 2015-11-27 00:00:00 | -0.02586946246935467 | 0.000449253862761242 |  | -1 | 0.02586946246935467 | 62 | -62
71 | 2016-10-31 00:00:00 | -0.02682609774299839 | 0.0004907219492270825 |  | -1 | 0.02682609774299839 | 64 | -64
72 | 2017-01-03 00:00:00 | -0.02787047365232099 | 0.0005380832118588176 |  | -1 | 0.02787047365232099 | 65 | -65
73 | 2016-12-12 00:00:00 | -0.02880374276158652 | 0.0005822515821648023 |  | -1 | 0.02880374276158652 | 67 | -67
74 | 2015-11-12 00:00:00 | -0.03480145308800749 | 0.0009076722898827603 |  | -1 | 0.03480145308800749 | 71 | -71
75 | 2016-07-18 00:00:00 | -0.04025822961882944 | 0.001266247862681284 |  | -1 | 0.04025822961882944 | 72 | -72
76 | 2017-02-21 00:00:00 | -0.05100257217722705 | 0.002146350224938592 |  | -1 | 0.05100257217722705 | 75 | -75
77 | 2015-10-26 00:00:00 | -0.05297570785990175 | 0.002333069187427921 |  | -1 | 0.05297570785990175 | 77 | -77
78 | 2016-01-11 00:00:00 | -0.05500924975960799 | 0.002533652171658394 |  | -1 | 0.05500924975960799 | 78 | -78
79 | 2015-11-16 00:00:00 | -0.06316157448041251 | 0.00342081356944458 |  | -1 | 0.06316157448041251 | 79 | -79
N | 79 |  |  |  |  |  | Positive Sum | 1177
Avergae (CAAR) | -0.004673852953201522 |  |  |  |  |  | Negative Sum | 1983
Sum (CAR-CAAR)^2 | 0.0392283517565985 |  |  |  |  |  | Test Statistic | 1177
Sample Variance | 0.0005029275866230577 |  |  |  |  |  | z Value | -1.969489027968249
[NAME]. | 0.02242604705745214
t Value | -1.852404644455402
Min | -0.06316157448041251
[NAME] | 0.05162558879236243