Panel A: Descriptive Statistics | ||||||||||
Mean | Minimum | Maximum | S.D. | Skewness | Kurtosis | |||||
−0.0003698 | −0.0122884 | 0.0532753 | 0.014473 | 2.966612 | 11.8553 | |||||
Panel B: Tests of Significance | ||||||||||
Quantiles | Tim | p-value (Tim) | t-statistic | p-value (t-statistic) | ||||||
5% | −0.0123 | 0.19 | −1.79 | 0.45 | ||||||
10% | −0.012 | 0.16 | −2.1 | 0.18 | ||||||
25% | −0.0077 | 0.16 | −1.58 | 0.16 | ||||||
Mean | −0.0004 | 0.38 | −0.08 | 0.38 | ||||||
Median | −0.0015 | 0.28 | −0.4 | 0.28 | ||||||
75% | 0.0009 | 0.72 | 0.2 | 0.73 | ||||||
90% | 0.007 | 0.45 | 1.13 | 0.64 | ||||||
95% | 0.0533*** | 0.00 | 7.74*** | 0.00 | ||||||