Variables

LC

CDB

LIQ

Abtest

Equation (1)

Equation (2)

Equation (3)

Equation (4)

Equation (5)

Equation (6)

order

Z

P

Z

P

Z

P

Z

P

Z

P

Z

P

AR (1)

−3.57

0.0004

−3.37

0.0007

−3.61

0.0003

−3.41

0.0007

−3.49

0.0005

−3.276

0.0011

AR (2)

−1.25

0.2096

−1.64

0.102

−0.379

0.7044

−1.64

0.1006

−0.40

0.6895

0.126

0.90