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	param	t-stat
$ω$	1.0628	6.74
$α$	0.1566	12.34
$β$	0.8120	52.53
$γ_{1}$	0.1167	3.04
$γ_{2}$	-0.0641	-1.09
$γ_{3}$	-0.5709	-9.41

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Manning & Napier Inc Spline ILLIQ Liquidity Analysis

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Parameter Estimates

News Impact Curve

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