Skip to main content

Table 3 Long-run elasticities for the dependent variable of stock price

From: The interaction between stock prices and interest rates in Turkey: empirical evidence from ARDL bounds test cointegration

Panel A: Dependent variable: LnEQ

 

Variables

FMOLS

DOLS

CCR

LnINT

−1.4019*

(0.0939)

[− 14.9147]

−1.4207*

(0.1038)

[− 13.6857]

−1.4023*

(0.0926)

[− 15.1362]

Constant

8.4931*

(0.2917)

[29.1086]

8.5368*

(0.3172)

[26.9074]

8.4944*

(0.2883)

[29.4619]

R2

0.8246

0.8373

0.8246

Adj. R2

0.8237

0.8339

0.8237

S.E. of regression

0.3003

0.2888

0.3003

  1. Note: * represents the significance level at 1%. The value in the parentheses and square brackets are standard errors and T-statistics, respectively. FMOLS Fully Modified Ordinary Least Squares, CCR Canonical Cointegration Regression, DOLS Dynamic Ordinary Least Squares