Financial Innovation

Table 3 Probability values of the unit root test

From: Market efficiency of gold exchange-traded funds in India

GETF	NONE		INTERCEPT		TREND & INTERCEPT
GETF	Coefficient	P value	Coefficient	P value	Coefficient	P value
GOLDMAN SACHS	−0.9778	0.0000 * *	−0.9785	0.0000 * *	−0.9831	0.0000 * *
KOTAK	−1.0048	0.0000 * *	−1.0051	0.0000 * *	−1.0083	0.0000 * *
R*SHARES	−1.0453	0.0000 * *	−1.0459	0.0000 * *	−1.0486	0.0000 * *
SBI	−1.0409	0.0000 * *	−1.0416	0.0000 * *	−1.0449	0.0000 * *
UTI	−0.9856	0.0000 * *	−0.9821	0.0000 * *	−0.9852	0.0000 * *

(**) Significant at 5% level

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