Relationship between fintech by Google search and bank stock return: a case study of Vietnam

Financial Innovation

Table 6 The co-integration test of specific models

Model 1. BankReturn = f(FinFintech)					Model 2. BankReturn = f(FinPayment)
Rank	LL	Eigenvalue	Trace Statistic	5% critical value	Rank	LL	Eigenvalue	Trace Statistic	5% critical value
0	387.73811		152.2501	15.41	0	348.74483		241.3153	15.41
1	436.41076	0.37516	54.9048	3.76	1	421.5307	0.50335	95.7436	3.76
2	463.86315	0.23298			2	469.4025	0.36891

Model 3. BankReturn = f(FinLending)					Model 4. BankReturn = f(FinMoney)
Rank	LL	Eigenvalue	Trace Statistic	5% critical value	Rank	LL	Eigenvalue	Trace Statistic	5% critical value
0	514.41508		151.8258	15.41	0	431.94114		132.0206	15.41
1	563.90943	0.38011	52.8371	3.76	1	472.62479	0.32502	50.6533	3.76
2	590.32797	0.22528			2	497.95142	0.21706

Model 5. BankReturn = f(FinWallet)					Model 6. BankReturn = f(FinProduct)
Rank	LL	Eigenvalue	Trace Statistic	5% critical value	Rank	LL	Eigenvalue	Trace Statistic	5% critical value
0	388.51388		151.9807	15.41	0	380.70609		234.4007	15.41
1	437.52183	0.37719	53.9648	3.76	1	443.77956	0.45473	108.2538	3.76
2	464.50421	0.22949			2	497.90646	0.40575