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International Journal of Corporate Social Responsibility

Table 2 Test for significance of CAR

From: Chinese shareholders’ reaction to the disclosure of environmental violations: a CSR perspective

Event date Estimation window Event window Average P value
event_date_n (−180,-30) (−1,1) −0.903% 0.041**
  1. ***p ≤ 0.01, **p ≤ 0 .05, *p ≤ 0.1, two tailed test
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