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	param	t-stat
$ω$	0.6672	2.11
$α$	0.3801	4.25
$β$	0.3275	3.93
$γ_{1}$	0.1956	0.34
$γ_{2}$	-0.5758	-0.77
$γ_{3}$	2.1543	4.99

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Beijing Zuojiang Technology Co Ltd Spline ILLIQ Liquidity Analysis

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Parameter Estimates

News Impact Curve

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