| Total number of international stock markets | 10 |
| Period of study10 | Jan. 1995-Dec. 2014 |
| Length of an estimation window | 1 year, calendar period |
| Rolling period | after every quarter (3 months), calendar period |
| Total number of combination | 45 |
| Total number of estimation windows | 77 |
| Total number of estimations | 3465 |