I am currently finishing my event study on announcement returns of acquiring firms after taking over a startup. My dataset looks like the following.
I have thus calculated the CARs for all acquirers for different event windows. However, I want to make a table stating the Average CAR over an event window with its statistical significance. However, I am lost on how to test my CARs on significance... Would I need to abnormal returns or are the CARs itself enough?
Your help would be much appreciated.
I have thus calculated the CARs for all acquirers for different event windows. However, I want to make a table stating the Average CAR over an event window with its statistical significance. However, I am lost on how to test my CARs on significance... Would I need to abnormal returns or are the CARs itself enough?
Your help would be much appreciated.
