MCARS - What does MCARS stand for? The Free Dictionary
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Table 3 presents the mean cumulative abnormal return (MCAR) and the percentage of positive cumulative return (%Positive) for selected intervals, with results for the entire sample in Panels A and C and for the matched-pairs in Panels B and D.
Mean Cumulative Abnormal Returns (MCAR), the percentage of positive returns (with the significance based on the two-tailed binomial sign test), and the t-statistic on the MCAR (based on Brown and Warner (1985)).
Acquired companies had positive, significant MCARs for either merger type.
Two-tailed t-tests were used to determine if the mean CARs (MCAR) for acquiring and acquired firms in purely related and purely unrelated mergers were significantly different from zero.
The concept car aims to provide the performance of a BMW MCar
and the fuel economy of a small car in the premium class.