Α

β

R²

All years

4.966

5.95

17.43%

(4.300)

(5.429)

2015

5.257

4.38

46.39%

(0.611)

(2.269)***

2016

2.12

−1.67

1.34%

(2.642)**

(−0.201)*

2017

4.83

−2.31

1.23%

(3.191)

(−0.179)*

2018

3.269

−3.115

3.08%

(3.726)

(−0.601)*

2019

2.291

−2.512

2.14%

(3.749)

(−0.456)*

2020

1.535

1.436

28.89%

(10.931)

(3.620)