Research on the Dependence Structure and Risk Spillover of Internet Money Funds Based on <i>C</i>-Vine Copula and Time-Varying <i>t</i>-Copula

<table class="table-group" id="tab8"><tr><td><table class="table"><tr><td class="thead-hr" colspan="5"><hr/></td></tr><tr class="thead"><td class="align_left">Number of layers</td><td class="align_center">Related funds</td><td class="align_center">Rho correlation coefficient</td><td class="align_center">Degree of freedom</td><td class="align_center">AIC</td></tr><tr><td class="thead-hr" colspan="5"><hr/></td></tr><tr><td class="align_left" rowspan="2">First layer</td><td class="align_center">INTE-FUND</td><td class="align_center">0.0757</td><td class="align_center">13.640</td><td class="align_center">−8.6175</td></tr><tr><td class="align_center">BANK-FUND</td><td class="align_center">0.1093</td><td class="align_center">5.776</td><td class="align_center">−48.6754</td></tr><tr><td class="align_left" colspan="5"><hr/></td></tr><tr><td class="align_left">Second layer</td><td class="align_center">INTE-BANK|FUND</td><td class="align_center">0.0834</td><td class="align_center">13.768</td><td class="align_center">−13.5544</td></tr><tr class="table-tr"><td colspan="5"><hr class="tbody-hr"/></td></tr></table></td></tr><tr class="table-fn"><td><div>Note: the results are calculated by MATLAB.<br/></div></td></tr></table>

<div>Parameter estimation results of IMFs.</div>

Complexity

tab8

Table 8

Table 8: Research on the Dependence Structure and Risk Spillover of Internet Money Funds Based on <i>C</i>-Vine Copula and Time-Varying <i>t</i>-Copula 

Complexity

Research on the Dependence Structure and Risk Spillover of Internet Money Funds Based on C-Vine Copula and Time-Varying t-Copula

Table 8