Table 1 This table summarizes the AAR, CAAR, AbsAAR, CAbsAAR, AAV and CAAV on and around the date of the announcement of Pfizer’s COVID-19 vaccine for the companies listed on the DJIA index. Results obtained using Kenneth R. French factor returns

− 2

− 0.053

− 0.0696

0.145

0.7698

− 2.90

0.1427

− 1

0.051

0.5567

− 0.128

− 0.2063

− 22.80

− 1.1558

0

1.330

1.4653

1.990

3.5355***

93.50

2.3924**

1

0.665

2.0181**

0.418

1.6309

34.90

1.6322

2

− 0.503

− 1.1521

0.160

1.0238

− 8.40

− 0.2597

[− 2,0]

1.328

1.1272

2.007

2.3666**

67.60

0.7964

[− 1,0]

1.381

1.4297

1.862

2.3541**

70.60

0.8744

[0,1]

1.995

2.4631**

2.408

3.6532***

128.40

2.8459***

[0,2]

1.491

1.3460

2.568

3.5739***

119.90

2.1737**