Question: Problem 7.5 Cumulative Abnormal Returns (LO2, CFA2) Ross Co., Westerfleld, Inc, and Jordan Company announced a new agreement to market their respective products in China
Problem 7.5 Cumulative Abnormal Returns (LO2, CFA2) Ross Co., Westerfleld, 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 retum (CAR) for these stocks as a group. Assume all companies have 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 "O* wherever required. Do not round intermediate calculations. Round your answers to one decimal place.)
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