Skip to main content

The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Journal of Economic Structures Cover Image

Table 5 The event period’s regression results

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*
  1. Source: Author’s Brodgar 2.7.5 Compilation
\