Table 1: Descriptive statistics for CSI 300.

MeanStd. dev.SkewnessKurtosisJarque-BeraADF- statistic

ARVt4.34716.80815.917449.075113054***−10.710***
3.34124.34455.945665.248200640***−7.7154***
1.00584.82859.5878109.80588176***−16.145***
0.86291.25451.86127.56251726.4***−16.555***
−0.95521.5382−2.11917.94382111.3***−17.202***
2.34783.30121.41964.1784472.08***−6.4500***
−2.84304.3645−1.90786.57851367.1***−7.0652***
5.70868.76861.43043.7846439.66***−3.0898**
−7.965212.647−1.89245.94521149.0***−2.8197*

, **, and * in the table mean obvious at significance level of 1%, 5%, and 10%, respectively, same for the following table.