... inside the event window. For the resultsreported in the tables, we start the estimation 150 days prior to the start of the event window, include upto 40 days inside the window, and end the estimation ... 1990, at about the midpoint of the Norwegian financial crisis, ownership byforeigners accounted for 29% of the market capitalization on the OSE. In that same year, near the peakof the Japanese ... variables from the distress announcement to control for possible biasesin the CARs related to investor anticipation of the event. BANKCAR, defined to be the 3-day CARestimate for the distressed...