The Measurement Method of Investor Sentiment and Its Relationship with Stock Market

Table 1

Summary of Markov-Switching Vector autoregressive (MS-VAR) model.

Coefficient	Variance	MSM		MSI
		Mean variant	Mean invariant	Intercept variant	Intercept invariant
Invariant	Invariant	MSM-VAR	Linear MVAR	MSI-VAR	Linear VAR
Invariant	Variant	MSMH-VAR	MSH-MVAR	MSIH-VAR	MSH-VAR
Variant	Invariant	MSMA-VAR	MSA-MVAR	MSIA-VAR	MSA-VAR
Variant	Variant	MSMAH-VAR	MSAH-MVAR	MSIAH-VAR	MSAH-VAR