| T179 |
134-665 |
Sentence |
denotes |
To test H1, we apply the multiple regression model as follows:CAR = β0 + β1CIPHT + β2PRO_CASE + β3SIZE + β4ROA + β5CURR + β6R&D + β7LOSS+ β8LEV + β9OPCF + β10TURN + β11CEO_AGE+ β12CEO_COM + β13CEO_TEN+ β14CEO_DUA + Week FE + Industry FE + Province FE + ε(2) where CAR refers to our two types of accumulative abnormal return (CAR [−1, 1] and CAR [−2, 2]), CIPHT is an indicator variable that equals one if there have been provincial new COVID-19 cases for at least six consecutive days including the current day and zero otherwise. |
