{name} Model Equation

Spline Coefficients

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Parameter	Value	t-statistic
ω const Unconditional variance weight	0.6871	4.92***
α ARCH Response to squared shocks	0.1551	24.70***
β GARCH Volatility persistence	0.8337	150.56***

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BB Biotech AG Spline ILLIQ Liquidity Analysis

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