{name} Model Equation

Spline Coefficients

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Parameter	Value	t-statistic
ω const Unconditional variance weight	1.7418	8.97***
α ARCH Response to squared shocks	0.0305	15.52***
β GARCH Volatility persistence	0.9280	587.32***
γ leverage Additional response to negative shocks	0.0762	16.22***

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Tenaris SA Asymmetric ILLIQ Liquidity Analysis

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News Impact Curve

Liquidity Forecast

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