The Abnormal Return in an Event Study Is Described as The

Multiple Choice

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

A) total return earned on a security on the day of an announcement.
B) daily return on a security minus the daily return on the overall market.
C) average return on a security for the 7-day period surrounding an announcement.
D) average return on a security for the 7-day period surrounding an announcement minus the average return on the security for the past year.
E) daily return on a security on the announcement date minus the risk-free rate of return.