{name} Model Equation

Spline Coefficients

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Parameter	Value	t-statistic
ω const Unconditional variance weight	0.9544	5.07***
α ARCH Response to squared shocks	0.0799	12.20***
β GARCH Volatility persistence	0.9182	133.85***

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Eidai Kako Co Ltd Spline ILLIQ Liquidity Analysis

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News Impact Curve

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