Asymmetric Risk Spillover Networks and Risk Contagion Driver in Chinese Financial Markets: The Perspective of Economic Policy Uncertainty

Table 7

Robustness tests based on risk contagion index of 24 firms.

	(1)	(2)	(3)
CEPU	0.0040		0.0038
CPI		−0.2678	−0.2011
CSI 300 turnover rate		−0.9505	−0.7003
Industrial value added		−0.0940	−0.1001
CSI 300 PE ratio		−0.3782	−0.3735
Treasury term spread		5.1000	5.1979
C	−8.87E − 12	−9.49E − 12	−9.59E − 12
R-squared	0.0216	0.2067	0.2251
Adjusted R^2	0.0153	0.1807	0.1943

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