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	param	t-stat
$ω$	0.9994	0.47
$α$	0.1619	0.04
$β$	0.8381	0.22
$γ_{1}$	-0.2343	-2.76
$γ_{2}$	0.3412	7.85
$γ_{3}$	-0.0478	-0.07

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Nichiiko Pharmaceutical Co Spline ILLIQ Liquidity Analysis

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Parameter Estimates

News Impact Curve

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