Coefficient

S.E.

Coefficient

S.E.

Conditional Mean Equation

${\alpha }_1$

${\alpha }_2$

${\gamma }_{11}$

${\gamma }_{22}$

${\eta }_{11}$

${\eta }_{22}$

0.0023

0.0072

−0.0042

−0.0032

0.0236

0.0261

(0.0014)

(0.0125)

(0.0018)

(0.0012)

(0.0034)

(0.2931)

${\beta }_{11}$

${\beta }_{22}$

${\beta }_{12}$

${\beta }_{12}^{\ast }$

${\beta }_{21}$

${\beta }_{21}^{*}$

0.652

0.842

0.0562

0.0135

(0.0072)

(0.0182)

(−0.031)

(0.0021)

Conditional Variance Equation

$c_{11}$

$c_{12}$

$s_{11}$

$s_{21}$

$s_{21}^{*}$

$s_{12}$

$s_{12}^{*}$

$s_{22}$

0.0062

0.0712

0.28671

0.0821

0.0021

−0.8321

(0.0027)

(0.01660

(0.00120

(0.0112)

(0.0821)

(0.0023)

${\alpha }_{11}$

${\alpha }_{21}$

${\alpha }_{21}^{*}$

${\alpha }_{12}$

${\alpha }_{12}^{*}$

${\alpha }_{22}$

0.0127

0.5521

0.3281

−0.8123

(0.0921)

(0.0012)

(−0.0231)

(0.0082)

Log Lik 11234.21

LBS Capitalisation (3)

LBS² capitalisation (3)

3.2912

6.1273

LBS Growth (3) 8.0152

LBS² Growth (3) 6.9172