One-way ANOVA results
| Panel A: CAR for (0, 5) event window | |||||||
| Number of obs | = | 280 | R-squared | = | 0.0103 | ||
| Root MSE | = | 11.28 | Adj R-squared | = | −0.0005 | ||
| Source | Partial SS | df | MS | F | Prob > F | ||
| TDTA_4 | 364.69 | 3 | 121.56 | 0.96 | 0.4144 | ||
| Residuals | 35125.15 | 276 | 127.27 | ||||
| Total | 35489.84 | 279 | 127.20 | ||||
| Panel B: CAR for (0, 10) event window | |||||||
| Number of obs | = | 280 | R-squared | = | 0.0079 | ||
| Root MSE | = | 13.63 | Adj R-squared | = | −0.0029 | ||
| Source | Partial SS | df | MS | F | Prob > F | ||
| TDTA_4 | 405.70 | 3 | 135.23 | 0.73 | 0.5358 | ||
| Residuals | 51241.11 | 276 | 185.66 | ||||
| Total | 51646.81 | 279 | 185.11 | ||||
| Number of obs | = | 280 | = | 0.0103 | |||
| Root MSE | = | 11.28 | Adj | = | −0.0005 | ||
| Source | Partial SS | df | MS | Prob > | |||
| TDTA_4 | 364.69 | 3 | 121.56 | 0.96 | 0.4144 | ||
| Residuals | 35125.15 | 276 | 127.27 | ||||
| Total | 35489.84 | 279 | 127.20 | ||||
| Number of obs | = | 280 | = | 0.0079 | |||
| Root MSE | = | 13.63 | Adj | = | −0.0029 | ||
| Source | Partial SS | df | MS | Prob > | |||
| TDTA_4 | 405.70 | 3 | 135.23 | 0.73 | 0.5358 | ||
| Residuals | 51241.11 | 276 | 185.66 | ||||
| Total | 51646.81 | 279 | 185.11 | ||||
Note(s): CAR refers to cumulative abnormal returns; TDTA_4 refers to four different groups according to the total-debt-to-total-assets ratio. (0, 10) and (0, 5) are event windows for after announcement periods
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.