Item$84$

Item $84$

The abnormal return in an event study is described as the:

Multiple Choice

total return earned on a security on the day of an announcement.

daily return on a security minus the daily return on the overall market.

average return on a security for the $7-$day period surrounding an announcement.

average return on a security for the $7-$day period surrounding an announcement minus the average return on the security for the past year.

daily return on a security on the announcement date minus the risk$-$free rate of return.