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	param	t-stat
$ω$	0.6263	3.58
$α$	0.1103	4.22
$β$	0.8249	19.55
$γ_{1}$	-0.5765	-3.39
$γ_{2}$	0.7542	2.98
$γ_{3}$	-0.3840	-1.99
$γ_{4}$	0.3856	2.39
$γ_{5}$	-0.2922	-1.93
$γ_{6}$	0.3461	1.51
$γ_{7}$	-0.5544	-1.66
$γ_{8}$	0.6236	1.84
$γ_{9}$	-0.7225	-2.61

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NZX Ltd Spline ILLIQ Liquidity Analysis

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