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	param	t-stat
$m$	41
$α$	0.2299	0.04
$β$	0.3454	2.60
$γ$	-0.2265	-0.02
$λ_{1}$	0.0529	0.03
$λ_{2}$	0.5602	0.06
$λ_{3}$	0.4399	0.07

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Penn-America Group Inc ILLIQ-MFMEM Liquidity Analysis

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