{name} Model Equation

Spline Coefficients

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Parameter	Value	t-statistic
ω const Unconditional variance weight	0.5624	6.59***
α ARCH Response to squared shocks	0.3280	6.05***
β GARCH Volatility persistence	0.4305	8.31***

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GuangDong GenSho Logistics CO., LTD. Spline ILLIQ Liquidity Analysis

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