Figure 1
A line graph titled AAR and CAAR (in percent) Over 3-Day Event Window. The horizontal axis is labeled Event Day, ranging from -1 to 1. The vertical axis is labeled with percentage values ranging from -2.00 percent to 0.00 percent. Two lines are plotted: a blue dashed line representing AAR and a red dashed line representing CAAR. The blue AAR line starts at approximately -0.10 percent on day -1, dips to around -1.237 percent on day 0, and rises to about -0.641 percent on day 1. The red CAAR line starts at approximately -0.10 percent on day -1, dips to around -1.337 percent on day 0, and falls further to about -1.978 percent on day 1.AAR and CAAR (in %) for Nifty CM. Source(s): Authors’ calculation