Ross Co. Westerfield, Inc. Jordan Company Date Market Return Company Return Date Market Return Company Return Date Marke

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Ross Co Westerfield Inc Jordan Company Date Market Return Company Return Date Market Return Company Return Date Marke 1 (24.92 KiB) Viewed 71 times

Ross Co., Westerfield, Inc., and Jordan Company announced a new
agreement to market their respective products in China on July 18,
February 12, and October 7, respectively. Given the information below,
calculate the cumulative abnormal return (CAR) for these stocks as a
group.
Assume all companies have an expected return equal to the market return.
Graph and interpret your results. Do your results support market
efficiency?
DO IT IN EXCEL WITH FORMULAS***
Ross Co. Westerfield, Inc. Jordan Company Date Market Return Company Return Date Market Return Company Return Date Market Return Company Return July 12 Feb 8 Oct 1 July 13 .1 .3 Feb 9 Oct 2 2 July 16 .6 Feb 10 Oct 3 1.3 July 17 Feb 11 1.0 Oct 6 - 5 July 18 1.9 1.3 Feb 12 Oct 7 -2.4 July 19 Feb 15 1.3 1.4 Oct 8 3 July 20 -10 Feb 16 1.7 .7 Oct 9 July 23 Feb 17 -.1 Oct 10 1 - 1 July 24 .1 Feb 18 Oct 13 - 2 1 -.8 6 .6 4 .0 - .0 5