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Financial Innovation

Table 4 The results of the augmented VAR test—Eqs. (1) and (2)

From: Tokenomics in the Metaverse: understanding the lead–lag effect among emerging crypto tokens

Variable

Equation 1

Equation 2

Lt-1

0.040134

0.113841*

Ft−1

− 0.073763

0.106468

Lt−2

0.094056

0.01886

Ft−2

0.029343

− 0.04124

Lt−3

− 0.023061

0.103661

Ft−3

0.050363

0.00862

Lt−4

0.098523

0.040011

Ft−4

0.121439*

0.231622***

Lt−5

− 0.100767

0.015465

Ft−5

0.035471

0.042579

  1. ***p < 0.001; **p < 0.01; *p < 0.05
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