[Retracted] Risk Spillover: A New Perspective on the Study of Financing Difficulties for SMEs—Evidence from China
Table 2
Parameter estimation results of the GARCH(1, 1) model and skewed-t distribution.
Items
ARCH (10)
SMEs
0.021(2.24)
0.059(6.43)
0.934(89.10)
7.631(7.09)
−0.143(−5.30)
12.73 (0.24)
Banks
0.024(2.21)
0.071(3.86)
0.929(53.80)
3.51(12.71)
0.09(4.52)
14.53 (0.15)
State-owned banks
0.03(2.75)
0.10(4.27)
0.89(34.74)
3.63(13.07)
0.06(2.71)
11.13 (0.35)
Joint-stock banks
0.02(1.81)
0.06(3.34)
0.94(48.60)
3.67(12.91)
0.10(4.52)
10.70 (0.38)
City commercial banks
0.32(3.14)
0.07(5.17)
0.93(77.49)
3.84(12.41)
0.07(3.03)
15.94 (0.11)
The numbers in Q (10) parentheses are values, and the other numbers in parentheses are t statistics; ,, and indicate being significant at the level of 1%, 5%, and 10%, respectively.
