Southern Goods Announced at Time T That It Was Replacing

Multiple Choice

Southern Goods announced at Time t that it was replacing its CEO.There were no other announcements affecting the firm.The stock had daily returns of -.3,+.2,-.2,-.1,+.3 for Time _{t - 2} to Time _{t + 2},respectively.The daily returns on the market were -.4,+.2,-.4,-.2,and +.2 for Time _{t - 2} to Time _{t + 2},respectively.What is the cumulative abnormal return for these five days?

A) +.1
B) +.3
C) .5
D) -.1
E) -.3