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	param	t-stat
$ω$	1.0652	2.07
$α$	0.4175	28.61
$β$	0.5798	40.73
$γ_{1}$	-0.0046	-0.37

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Beijing Certificate Authority Co., Ltd. Spline ILLIQ Liquidity Analysis

Liquidity Prediction for Tuesday, February 24th, 2026:102.68 (-6.41)

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Parameter Estimates

News Impact Curve

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