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Capitat Mark.ts Re|'er Vol lINos l &2

20

Table 5

KL'E conpos*e h'#laf l llf, 5'"'"'l'?;t';i"T"SI"'""""'t"t "'t

tffir $eek and'isniricance or F\.urLtics ro'

Wed Ihu's

0.0034662r.a60332',10.0634361

0.00221'171.305126E0.192461

0.00i24E6|.90310220.05?6118

0.0053385l-9?01895o 1499415

Panel I : Ovetalt20 Dec 99 '20 De. ull

crc ;:,lifi:'"'

.ilqiii:isignrlrcanc€

orc:.":.Tt""",_l33lilll;-;il" o o468se7

siAnificarce

cro ::,:"'."- l:33l3il;-;;i;. 00711868

significance

i;;i:" ';':'f;i* *,

0.003644t9514320.051573

0.00?0771.2196110.22317

0.0015672.38315

0017544

0.00559793.00441660.0027969

0.00442362.6033',72',70-0095105

0.0011?431J8988850.0740879

0.00233151.23555460.217215

0.001540?0.89533160.3710485

0.00079071.1900919o.2145a54

CTC Coefficien!

significance

oTC CoeJficienl

signiltcarce

CTO Coefficient

siSnificdce

Panel 3 : Post'T+3e0 Dec A0 19 Dec

CTc coefficient

sisnifican'e

OTC Coefficient

sigtilicance

CTO Coefficient

significance

-0-0048459-2.54203260.0116405

,0.0040179,2.3180687o 3212732

0.000828,1.1880665o.2359623

01)

-0.0019582-1.0280660.3049713

0.0010?490.58839470.5568301

-0.0009333-143815820.1517139

03065682.4604040.014571

0.0048341.9916200.o4'1521

0.0017341.7766850.0?686

0.007360E2.7570016a.0062'743

0.006180725460776

0.01151

0.0011801i.2090036o.22',7831',7

0.00282831.02702120-3054275

0.00204050.81491280.4159169

0.00078780;1824',187

0.434692

0.0041231

o 22106l

0001

0.001215

|.67350.0955

t.226

0.

0.13

0.0009000.33',76'190.?35904

-0.000556-l.22A1370.819736

0.0014561.60350

0.110161

0.0038595t.44',197310.1489517

0.00265641.089?9210.n69r62

0.00120311.32480060.1865186

0.00178790.674134

0.5008859

0.00094270-38868490.6978591

0.0008452o.93531620.3505506

0.51

0.0003

0.891

0.00131.5310.1271

*-",llil*e. o.* "t""t ts significant at 1% level' (** at s% 1e!e1) and (* at 10% lever)