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# Perform an event study with the data given for the 6 dividend omission events (the data is given in the file

"dividend omission permno"). The Microsoft Excel text file contains both the permnos and the event dates. Eventus requires that you upload this file in step 1 of Eventus. Once you have performed the event study, report the following information:1.What are the estimates from the market model for alpha and beta for each of the 6 securities/events?2.Identify date and mean abnormal return (derived from the market model) for all dates where there is evidence to reject the null hypothesis that the mean abnormal return equals zero. State the level of statistical significance, 10% level, 5% level, or 1% level.Hint:Note that you will report the strongest statement you can correctly make about statistical significance. For example, if the p-value is .03, then report "statistically significant at the 5% level."3.Eventus will permit you to select more than one event window. Examine event windows of different duration. For example, examine event windows beginning as early as day -10 and ending as late as day +10. Also, examine windows beginning prior to the event date and ending on the event date (day 0) as well as event windows beginning with the event date and ending after the event date. Examples include event windows (-10, +10), (-5,0), (0,+5), (-1,0), (0,+1), (-1,+1), and (-2, +2). Identify the event window and the mean cumulative abnormal return derived from the market model for all event windows where there is evidence to reject the null hypothesis that the mean CAR equals zero. State the level of statistical significance.4.If the mean CAR is negative, how do market participants view dividend omissions?For all of your tests for statistical significance, use the Portfolio Time Series (CDA) test statistic which employs the test (t-test) with which you are familiar.

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