Modeling and Application of a New Nonlinear Fractional Financial Model

Table 4

The third equation in (9) under the several time steps of discretization.

	Δ𝑡
	0.6	0.7	0.8	0.9	1
𝑐	0.2528***	0.2528***	0.2426***	0.2341***	0.2242**
	(0.0041)	(0.0041)	(0.0041)	(0.0041)	(0.0041)
𝑥	0.1387**	0.1386**	0.1331**	0.1284**	0.1230**
	(0.0350)	(0.0350)	(0.0350)	(0.0350)	(0.0350)
𝑦	−2.1169***	−2.1166***	−2.0317***	−1.9601***	−1.8774***
	(0.0025)	(0.0025)	(0.0025)	(0.0025)	(0.0025)
𝑧
	𝑥𝑦
𝑦𝑧		−2.8366***	−2.8361***	−2.7224***	−2.6264***	−2.5156***
	(0.0000)	(0.0000)	(0.0000)	(0.0000)	(0.0000)
𝑧𝑥
	𝑥^2
𝑦^2		4.2750***	4.2743***	4.1029***	3.9582***	3.7912**
	(0.0017)	(0.0017)	(0.0017)	(0.0017)	(0.0017)
𝑧^2
	SSR	1.3𝑒−3	1.3𝑒−3	1.2𝑒−3	1.1𝑒−3	1.0𝑒−3
Prob(F)	0.0000	0.0000	0.0000	0.0000	0.0000

Note. ***, **, and *: denote statistical significance at the 1%, 5%, and 10% levels. SSR is the sum squared residuals. Prob is the P value of F-statistic.