Table 6.
The regression result for after adding global port calls as control variable.
| Short-term component |
Long-term component |
|||
|---|---|---|---|---|
| Regression Val | Standard Dev | Regression Val | Standard Dev | |
| Infection(-1) | 8.08E-05 | 7.47E-05 | 8.36E-05 | 6.52E-05 |
| Infection(-2) | 0.00010 | 7.92E-05 | 9.47E-05 | 6.70E-05 |
| Infection(-3) | 0.00013 | 8.44E-05 | 0.00011 | 6.89E-05 |
| Infection(-4) | 0.00012 | 8.60E-05 | 0.00012* | 7.11E-05 |
| Infection(-5) | 0.00013 | 8.83E-05 | 0.00014* | 7.35E-05 |
| Infection(-6) | 0.00016* | 9.35E-05 | 0.00016** | 7.61E-05 |
| Infection(-7) | 0.00021** | 9.97E-05 | 0.00018** | 7.92E-05 |
| Infection(-8) | 0.00029*** | 0.00011 | 0.00021** | 8.26E-05 |
| Infection(-9) | 0.00032*** | 0.00011 | 0.00025*** | 8.66E-05 |
| Infection(-10) | 0.00036*** | 0.00012 | 0.00029*** | 9.14E-05 |
| Infection(-11) | 0.00047*** | 0.00012 | 0.00035*** | 9.70E-05 |
| Infection(-12) | 0.00062*** | 0.00013 | 0.00043*** | 0.00010 |
| Infection(-13) | 0.00081*** | 0.00014 | 0.00053*** | 0.00011 |
| Infection(-14) | 0.00085*** | 0.00014 | 0.00069*** | 0.00012 |
| Port calls(-1) | 1.27*** | 0.046 | 1.41*** | 0.040 |
| Port calls(-2) | 1.27*** | 0.046 | 1.41*** | 0.041 |
| Port calls(-3) | 1.26*** | 0.046 | 1.41*** | 0.042 |
| Port calls(-4) | 1.26*** | 0.046 | 1.41*** | 0.042 |
| Port calls(-5) | 1.26*** | 0.046 | 1.41*** | 0.042 |
| Port calls(-6) | 1.26*** | 0.046 | 1.41*** | 0.043 |
| Port calls(-7) | 1.26*** | 0.046 | 1.41*** | 0.043 |
| Port calls(-8) | 1.26*** | 0.046 | 1.41*** | 0.043 |
| Port calls(-9) | 1.26*** | 0.046 | 1.41*** | 0.044 |
| Port calls(-10) | 1.26*** | 0.046 | 1.41*** | 0.044 |
| Port calls(-11) | 1.26*** | 0.047 | 1.41*** | 0.044 |
| Port calls(-12) | 1.26*** | 0.047 | 1.41*** | 0.044 |
| Port calls(-13) | 1.27*** | 0.048 | 1.42*** | 0.045 |
| Port calls(-14) | 1.28*** | 0.048 | 1.42*** | 0.045 |
| BDI(-1) | 31.14 | 27.29 | 41.41 | 30.21 |
| BDI(-2) | 37.48 | 27.45 | 47.93 | 30.25 |
| BDI(-3) | 42.30 | 27.60 | 54.51* | 30.30 |
| BDI(-4) | 46.11 | 27.75 | 61.15** | 30.34 |
| BDI(-5) | 49.24* | 27.89 | 67.84** | 30.38 |
| BDI(-6) | 53.28* | 28.00 | 74.60** | 30.42 |
| BDI(-7) | 57.28** | 28.04 | 81.42*** | 30.45 |
| BDI(-8) | 59.46** | 28.04 | 88.31*** | 30.49 |
| BDI(-9) | 60.64** | 28.02 | 95.79*** | 30.48 |
| BDI(-10) | 60.65** | 27.98 | 103.29*** | 30.46 |
| BDI(-11) | 62.22** | 27.92 | 110.83*** | 30.44 |
| BDI(-12) | 64.54** | 27.86 | 118.40*** | 30.42 |
| BDI(-13) | 66.91** | 27.79 | 126.01*** | 30.39 |
| BDI(-14) | 70.17** | 27.68 | 133.64*** | 30.36 |
| Constant term | −10485.21*** | 442.48 | −11787.47*** | 389.21 |
| R2 | 0.62 | 0.73 | ||
Note: * means rejections of null hypothesis at the 10% significance level, ** indicates rejections of null hypothesis at the 5% significance level, *** means rejections of null hypothesis at the 1% significance level.