Dynamic Cross-Correlations between Participants’ Attentions to P2P Lending and Offline Loan in the Private Lending Market

Table 3

Estimation results of quantile regression.

Quantile
0.05	426.9315	0.0369
	(0.0000)	(0.0000)
0.10	488.3254	0.0426
	(0.0000)	(0.0000)
0.25	739.9957	0.0386
	(0.0000)	(0.0000)
0.50	933.3032	0.0402
	(0.0000)	(0.0000)
0.75	1055.0440	0.0654
	(0.0000)	(0.0000)
0.90	1550.3950	0.0550
	(0.0000)	(0.0000)

The regression model is , in which is the Baidu index of P2P lending, is the Baidu index of offline loan in time t, represents the quantile, and and denote the coefficient of regression terms. values and t statistics are in parentheses , , .