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Table 5 Homogeneity tests

From: Do US states’ responses to COVID-19 restore investor sentiment? Evidence from S&P 500 financial institutions

Transition variable: government response index (GRI)

m

LM_X

PV

LM_F

PV

HAC_X

PV

HAC_F

PV

WB_PV

WCB_PV

1

63.36

5.71E−13

15.77

6.93E−13

39.78

4.81E−08

9.901

5.34E−08

0

0

2

167.7

0.00E+00

20.87

0.00E+00

57.86

1.22E−09

7.199

1.44E−09

0

0

3

227.1

0.00E+00

18.84

0.00E+00

58.48

4.27E−08

4.849

4.99E−08

0

0