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	param	t-stat
$ω$	1.3259	4.29
$α$	0.1193	7.93
$β$	0.8788	57.30
$γ_{1}$	-0.0908	-2.54
$γ_{2}$	-0.1261	-1.54
$γ_{3}$	0.4642	2.73
$γ_{4}$	0.0923	0.18

V-Lab

PHI Inc Spline ILLIQ Liquidity Analysis

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News Impact Curve

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