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	param	t-stat
$m$	31
$α$	0.0950	0.69
$β$	0.7822	10.70
$γ$	-0.0950	-0.29
$λ_{1}$	10.0000	0.05
$λ_{2}$	0.1616	1.95
$λ_{3}$	0.8384	3.17

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Penns Woods Bancorp Inc ILLIQ-MFMEM Liquidity Analysis

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Parameter Estimates

News Impact Curve

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