Hi,

i am using the event study to analyse the effects of opec announcements on crude oil prices for my thesis. I have calculated the abnormal returns for each event window. my confusion is on the averaging of the ARs and testing. I know i have to average the AR to get the AAR for testing. How do I calculate the STDEV of the ARs and for what period? I have seen the STDEV of AR calculated over the estimation period to the event window.:s Is using STDEV the right thing for my study type?Also, how do i interpret the test results? i haven't seen many event studies are on oil prices. pls help if you can. deadline's close thanks in advance.