Panel A (LOGNUM, PRICE) | ||||
---|---|---|---|---|

Hypothesized No. of CE(s) | Eigen value | Trace Statistic | 0.05 Critical Value | Prob. |

None * | 0.149 | 21.647 | 15.494 | 0.005 |

At Most 1 | 0,0083 | 1.066 | 3.841 | 0.301 |

Panel B (LOGNUM, VOL, PRICE) | ||||

Hypothesized No. of CE(s) | Eigen value | Trace Statistic | 0.05 Critical Value | Prob. |

None * | 0.173 | 37.939 | 29.797 | 0.0046 |

At Most 1 | 0.094 | 13.759 | 15.494 | 0.089 |

At Most 2 | 0.0094 | 1.205 | 3.841 | 0.272 |