Yes, ∏ is to mean cumulative multiply
I think the equation might be as followed,
ret=(exp(lret))-1;
benchret=(exp(lbenchret))-1;
bhar=(ret-benchret)*100;
but I don't know how to use the loop to get the buy-and-hold abnormal return on 12 , 24, and 36 months separately.
Thank for your help!
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