Markets

C

0.043^***

(19.65)

0.109^***

(21.34)

0.399^***

(103.98)

0.207^***

(46.39)

0.167^***

(106.19)

0.23^***

(33.31)

0.256^***

(44.89)

0.287^***

(39.14)

Log(PE_CN,t/PE_i,t)

−0.052^***

(12.14)

−0.092^***

(6.82)

−0.175^***

(26.47)

−0.145^***

(14.90)

0.060^***

(15.22)

−0.032^***

(7.92)

−0.003^***

(9.05)

−0.086^***

(8.89)

0.069^***

(4.68)

0.042 (1.29)

0.163^***

(4.54)

0.123^***

(5.354)

0.001

(0.05)

0.092^**

(2.58)

0.044^*

(1.69)

0.081^***

(3.53)

−0.014

(1.57)

0.026^***

(54.67)

0.152^***

(3.35)

0.043

(1.39)

0.073^***

(2.71)

0.060

(1.41)

0.013

(0.31)

0.049

(1.12)

0.17

0.07

0.14

0.30

0.05

0.09

0.11

0.11