Stock Market Reaction to the Announcement of the COVID-19 Lockdown: Evidence from Healthcare Companies in Malaysia

Table 6

Cumulative abnormal average return (CAAR) in 2 sample ages.

Event no.	Firm age
	Young group		Old group
	CAAR	value	CAAR	value
1	−0.1019	−0.939	−0.1471	−2.536
2	0.0709	0.809	0.1102	4.015
3	0.0529	0.809	0.0577	2.908
4	0.0416	0.362	0.0437	0.758

^{Significant at the 10% level.Significant at the 5% level.Significant at the 1% level.}