Table 11  Continued increasing public health threats and accumulative abnormal return conditioning on the start of community lockdown.
CAR [-1, 1]  CAR [−2, 2]
(A)  (B)
CIPHT  −0.007 ***  −0.012 ***
(−7.105)  (−8.778)
CIPHT × POST_Lockdown  0.007 ***  0.011 ***
(6.766)  (8.379)
POST_Lockdown  −0.006 ***  −0.010 ***
(−6.449)  (−7.826)
PRO_CASE  0.000 **  0.001 ***
(2.319)  (2.945)
SIZE  −0.000  −0.000
(−0.592)  (−0.984)
ROA  −0.000  −0.000
(−0.986)  (−1.196)
CURR  −0.000 ***  −0.000 ***
(−3.666)  (−4.759)
R&D  0.000 **  0.000 ***
(2.519)  (3.122)
LOSS  −0.001  −0.001 *
(−1.549)  (−1.902)
LEV  −0.000  −0.000
(−1.012)  (−1.134)
OPCF  −0.004 ***  −0.008 ***
(−4.130)  (−5.557)
TURN  0.000  0.000
(0.867)  (1.133)
CEO_AGE  0.000  0.000
(0.132)  (0.075)
CEO_COM  0.000  0.000
(0.239)  (0.301)
CEO_TEN  0.000 ***  0.000 ***
(2.744)  (3.558)
CEO_DUA  −0.000  −0.001
(−1.247)  (−1.568)
Constant  0.004  0.008
(1.164)  (1.620)
Week FE  Yes  Yes
Industry FE  Yes  Yes
Province FE  Yes  Yes
Adjusted R2  0.003  0.005
Observations  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.