Table 8  Continued increasing public health threats and accumulative abnormal return conditioning on provincial information accessibility.
CAR [−1, 1]  CAR [−1, 1]  CAR [−1, 1]  CAR [−2, 2]  CAR [−2, 2]  CAR [−2, 2]
(A)  (B)   (C)  (D)  (E)  (F)
CIPHT  −0.002 ***  −0.002 ***  −0.002 ***  −0.002 ***  −0.004 ***  −0.003 ***
(−3.570)  (−5.012)  (−4.678)  (−4.423)  (−6.268)  (−5.810)
CIPHT × High_WEB  0.002 ***    0.003 ***
(3.461)    (4.455)
High_WEB  −0.002    −0.003
(−0.896)    (−1.024)
CIPHT × High_MED   0.003 ***    0.004 ***
(5.500)    (7.032)
High_MED   −0.002    −0.002
(−0.732)    (−0.908)
CIPHT × High_MOB    0.003 ***    0.004 ***
(5.163)    (6.550)
High_MOB    −0.001    −0.001
(−0.363)    (−0.428)
PRO_CASE  0.000 ***  0.001 ***  0.001 ***  0.001 ***  0.001 ***  0.001 ***
(3.109)  (3.247)  (3.249)  (3.940)  (4.116)  (4.116)
SIZE  −0.000  −0.000  −0.000  −0.000  −0.000  −0.000
(−0.588)  (−0.586)  (−0.588)  (−0.979)  (−0.977)  (−0.979)
ROA  −0.000  −0.000  −0.000  −0.000  −0.000  −0.000
(−0.985)  (−0.986)  (−0.986)  (−1.195)  (−1.196)  (−1.196)
CURR  −0.000 ***  −0.000 ***  −0.000 ***  −0.000 ***  −0.000 ***  −0.000 ***
(−3.670)  (−3.661)  (−3.664)  (−4.763)  (−4.753)  (−4.757)
R&D  0.000 **  0.000 **  0.000 **  0.000 ***  0.000 ***  0.000 ***
(2.519)  (2.519)  (2.519)  (3.122)  (3.122)  (3.122)
LOSS  −0.001  −0.001  −0.001  −0.001 *  −0.001 *  −0.001 *
(−1.548)  (−1.549)  (−1.548)  (−1.900)  (−1.902)  (−1.901)
LEV  −0.000  −0.000  −0.000  −0.000  −0.000  −0.000
(−1.009)  (−1.009)  (−1.010)  (−1.130)  (−1.129)  (−1.132)
OPCF  −0.004 ***  −0.004 ***  −0.004 ***  −0.008 ***  −0.008 ***  −0.008 ***
(−4.122)  (−4.125)  (−4.141)  (−5.546)  (−5.550)  (−5.571)
TURN  0.000  0.000  0.000  0.000  0.000  0.000
(0.871)  (0.872)  (0.861)  (1.138)  (1.140)  (1.125)
CEO_AGE  0.000  0.000  0.000  0.000  0.000  0.000
(0.134)  (0.134)  (0.135)  (0.078)  (0.077)  (0.079)
CEO_COM  0.000  0.000  0.000  0.000  0.000  0.000
(0.239)  (0.239)  (0.239)  (0.301)  (0.301)  (0.300)
CEO_TEN  0.000 ***  0.000 ***  0.000 ***  0.000 ***  0.000 ***  0.000 ***
(2.742)  (2.743)  (2.740)  (3.557)  (3.558)  (3.554)
CEO_DUA  −0.000  −0.000  −0.000  −0.001  −0.001  −0.001
(−1.254)  (−1.250)  (−1.250)  (−1.577)  (−1.572)  (−1.572)
Constant  0.003  0.002  0.003  0.005  0.004  0.005
(0.762)  (0.530)  (0.829)  (0.972)  (0.741)  (1.103)
Week FE  Yes  Yes  Yes  Yes  Yes  Yes
Industry FE  Yes  Yes  Yes  Yes  Yes  Yes
Province FE  Yes  Yes  Yes  Yes  Yes  Yes
Adjusted R2  0.003  0.003  0.003  0.005  0.005  0.005
Observations  178,805  178,805  178,805  178,805  178,805  178,805
Note: *, **, *** indicate significance at the 0.10, 0.05, and 0.01 levels, respectively. See Appendix A for definitions and measurements of the variables.