On November 14, Thorogood Enterprises announced that the public and acrimonious battle with its current CEO...

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On November 14, Thorogood Enterprises announced that the publicand acrimonious battle with its current CEO had been resolved.Under the terms of the deal, the CEO would step down from hisposition immediately. In exchange, he was given a generousseverance package. Given the information below, calculate thecumulative abnormal return (CAR) around this announcement. Assumethe company has an expected return equal to the market return.(A negative value should be indicated by a minus sign.Leave no cells blank - be certain to enter "0" wherever required.Do not round intermediate calculations. Round your answers to 1decimal place.)
Date Market Return (%) Company Return (%)
Nov 7 1.5 1.1
Nov 8 1.3 1.1
Nov 9 ?1.2 ?0.2
Nov 10 ?0.6 ?0.4
Nov 11 2.3 1.0
Nov 14 ?1.1 2.8
Nov 15 0.1 0.1
Nov 16 0.9 1.7
Nov 17 1.2 0.6
Nov 18 ?1.2 0.0
Nov 21 1.3 0.2
Days from Announcement Daily Abnormal Return Cumulative Abnormal Return
?5
?4
?3
?2
?1
0
1
2
3
4
5

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On November 14, Thorogood Enterprises announced that the publicand acrimonious battle with its current CEO had been resolved.Under the terms of the deal, the CEO would step down from hisposition immediately. In exchange, he was given a generousseverance package. Given the information below, calculate thecumulative abnormal return (CAR) around this announcement. Assumethe company has an expected return equal to the market return.(A negative value should be indicated by a minus sign.Leave no cells blank - be certain to enter "0" wherever required.Do not round intermediate calculations. Round your answers to 1decimal place.)DateMarket Return (%)Company Return (%)Nov 71.51.1Nov 81.31.1Nov 9?1.2?0.2Nov 10?0.6?0.4Nov 112.31.0Nov 14?1.12.8Nov 150.10.1Nov 160.91.7Nov 171.20.6Nov 18?1.20.0Nov 211.30.2Days from AnnouncementDaily Abnormal ReturnCumulative Abnormal Return?5?4?3?2?1012345

Date	Market Return (%)	Company Return (%)
Nov 7	1.5	1.1
Nov 8	1.3	1.1
Nov 9	?1.2	?0.2
Nov 10	?0.6	?0.4
Nov 11	2.3	1.0
Nov 14	?1.1	2.8
Nov 15	0.1	0.1
Nov 16	0.9	1.7
Nov 17	1.2	0.6
Nov 18	?1.2	0.0
Nov 21	1.3	0.2