The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)
From: The impact of stock market manipulation on Nigeria’s economic performance
Intercept | Change | Volume | Volatility | Bid–ask spread | Prop. bid–ask spread | |
---|---|---|---|---|---|---|
First set regressions | ||||||
Bid–ask spread (on dummy) | ||||||
Equation 5 | 0.0237 | 0.0002 | ||||
P-value | < 0.0001*** | 0.31342 | ||||
Prop. bid–ask spread (on dummy) | ||||||
Equation 6 | 0.1216 | 0.0224 | ||||
P-value | < 0.0001*** | < 0.0001*** | ||||
Bid–ask spread | ||||||
Equation 7 | 0.02013 | 0.00142 | − 10.00003 | 0.08204 | ||
P-value | < 0.0001** | 0.38136 | 0.00212*** | 0.01511** | ||
Prop. bid–ask spread | ||||||
Equation 8 | 0.13181 | 0.02418 | − 10.00005 | 0.43261 | ||
P-value | < 0.0001*** | < 0.0001*** | 0.06241* | < 0.0001*** | ||
Second set regressions | ||||||
Volume (on dummy) | ||||||
Equation 9 | 10,944,432,333 | 4,713,066,917 | ||||
P-value | < 0.0001*** | 0.8903 | ||||
Volume | ||||||
Equation 10 | 17,246,135,386 | 6,605,310,181 | − 110,268,238,066 | − 121,526,181,954 | ||
P-value | < 0.0001*** | 0.6219 | 0.0924* | 0.0033*** | ||
Volume | ||||||
Equation 11 | 16,873,273,330 | 7,035,147,112 | − 110,487,638,057 | − 18,065,758,918 | ||
P-value | < 0.0001*** | 0.3642 | 0.0882* | 0.0647* |