Table 2.

Estimation results.

Panel A: Coefficients for SP index (θ) and SP index and COVID dummy interaction (θ).
	θ	p(θ)	δ	p(δ)
0.025	1.024***	0.000	-0.022	0.882
0.050	1.042***	0.000	0.104	0.130
0.075	0.996***	0.000	0.121*	0.082
0.100	0.972***	0.000	0.086	0.441
0.150	1.002***	0.000	0.039	0.553
0.200	1.022***	0.000	0.020	0.7213
0.250	1.012***	0.000	0.056	0.679
0.500	0.972***	0.000	0.040	0.435
0.750	0.974***	0.000	0.137***	0.006
0.800	0.975***	0.000	0.130*	0.08
0.850	0.965***	0.000	0.169**	0.016
0.900	0.944***	0.000	0.180**	0.012
0.925	0.904***	0.000	0.116	0.173
0.950	0.880***	0.000	0.285***	0.001
0.975	0.870***	0.000	0.281***	0.000
Panel B: Coefficients for GSIC index (ϒ) and GSIC index and COVID dummy interaction (b).
	ϒ	p(ϒ)	b	p(b)
0.025	-0.044***	0.000	-0.003	0.803
0.050	-0.056***	0.000	0.018*	0.098
0.075	-0.045***	0.000	0.010	0.428
0.100	-0.044***	0.000	0.013	0.310
0.150	-0.027**	0.023	0.006	0.583
0.200	-0.017**	0.025	-0.000	0.966
0.250	-0.013**	0.022	0.000	0.949
0.500	-0.005	0.378	0.003	0.655
0.750	0.018**	0.043	-0.007	0.427
0.800	0.022**	0.017	-0.008	0.394
0.850	0.027***	0.002	-0.007	0.435
0.900	0.031***	0.000	-0.004	0.707
0.925	0.032**	0.031	0.003	0.883
0.950	0.032***	0.002	0.017	0.374
0.975	0.027***	0.004	0.029**	0.016

Notes: The Quantile Regression (QR) estimation result for selected quantiles.