{name} Model Equation

Spline Coefficients

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Parameter	Value	t-statistic
ω const Unconditional variance weight	1.3505	4.78***
α ARCH Response to squared shocks	0.2179	6.50***
β GARCH Volatility persistence	0.7807	22.88***

γ₁	0.3554	0.20
γ₂	-3.0361	-1.13
γ₃	8.2857	3.98***
γ₄	-10.0229	-5.98***
γ₅	6.2882	6.86***
γ₆	-4.0351	-5.35***
γ₇	4.9041	4.08***

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Virtual Mind Holding Co Ltd Spline ILLIQ Liquidity Analysis

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