Mathematical Problems in Engineering

Research Article

Investors’ Risk Preference Characteristics and Conditional Skewness

Table 6

Results of GARCHCS-M model.
 NYSENASDAQN225FTSEHSI
0.032748***0.059882***0.109288***0.065898***0.054940***
0.003755***0.011491***0.004289***0.003981***0.004468***
0.840223***0.761472***0.571782***0.597459***0.831583***
0.520869−1.818666***−5.558346***−1.669158**1.498100***
−0.534450***−0.554154***−0.549442***−0.545990***−0.564360***
0.389653***0.405554***0.425541***0.436965***0.382486***
2.427590***2.103677***2.141823***2.717860***1.723770***
−2.417871***−2.111141***−2.240880***−2.804423***−1.918894***
0.011167***0.034400***−0.000686−0.0016680.059488***
0.025146***−0.003799***0.017174***−0.006407***−0.001418***
−0.417980***−0.765549***0.233469***0.393021***−0.683796***
−0.002138***−0.011834***−0.004405***−0.004398***−0.013545***
 SSETSXDAXAORDBSE
0.078490***0.095450***0.081691***0.064674***0.114732***
0.008338***0.002842***0.006848***0.019617***0.004242***
0.753594***0.405478***0.666130***0.395201***0.580042***
1.358914***−2.522936***−1.236687***−1.845275***−1.512498**
−0.549423***−0.552330***−0.542548**−0.545878***−0.567313***
0.419093***0.451105***0.429631***0.405188***0.406237***
1.880591***2.727661***2.198568***3.306989***1.993331***
−1.970116***−2.804131***−2.279814***−3.355281***−2.082169***
0.021521***0.016240*** 0.002079***
0.003092***−0.009698***−0.004551***0.011885***−0.000992***
−0.955899***0.043553***0.799342***0.427390***0.779456***
−0.003252***−0.001740***−0.004559***−0.001707***−0.004719***
Note: ***, **, and * in all tables denote that the parameter is significant at 1%, 5%, and 10% level, respectively.