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heteroskedasticity test finds that the p values of F-statistics have the figure less than 0.05. • The test for autocorrelation The DW statistic of the model shows some concern of positive autocorrelation; however
statistic of the model shows some concern of positive autocorrelation; however, Harvey (1990) suggest that minor positive autocorrelation is normal symptom for the financial data research. Working Paper: Does
Research Hypotheses •𝐻1: Cryptocurrency-related announcements are associated with positive stock returns. •𝐻2: Firms announcing direct investment in cryptocurrency earn higher market reaction. •𝐻3: Firms