Table 1.

Number of the 79 proxies which fall at various significance levels for the three different models.

Coefficients with Significance α
Model	α = 10%	α = 5%	α = 1%	α = 0.1%
QUARTS	48	43	31	16
AR2 PC3 GLS	29	17	12	2
AR1 PC9 GLS	39	32	17	7