Cumulative Abnormal Returns from Eventus – a bit more userfriendly

The output of a Basic Daily Event Study in Eventus is a text-file. You can read it more easily when you copy the text and paste it into Word (use landscape and the largest format possible), but even then it’s not very user friendly. (Tips are welcome!)

If you are (only) interested in the Cumulative Abnormal Returns, there is an alternative: the Cross-Sectional Analysis – Daily event study in Eventus (this option can be found in the column at the left side of the screen in Eventus).  The output of this study is a SAS-file, but you can open it in SPSS as well (Choose in SPSS ‘Open an existing data source’  and select behind Files of Type SAS). From SPSS you can export the file to Excel. When you don’t have SAS or SPSS you can send the file to the Datateam, we can export it from SAS to Excel.

The output looks like this:

Please note 1: As you can see, this output has little additional information: you have to remember the windows entered at step 4 and you can’t see if and why events have been deleted (for this information you still need to run the Basic Daily Event Study).

Please note 2: When you open the output in SPSS, you’ll see less decimals for the CARs. You can adjust that in the Variable View of the file in SPSS.

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