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Table 8 The results of the augmented VAR estimation: Eq. (3)

From: Building stock market resilience through digital transformation: using Google trends to analyze the impact of COVID-19 pandemic

Variable Group 1 Variable Group 2 Variable Group 3
Gt1–1 1.0419a Gt2–1 0.9475a Gt3–1 0.8572a
Pt1–1 22.1816 Pt2–1 −2.5867 Pt3–1 −7.5560
Gt1–2 −0.4049 Gt2–2 −0.3738 Gt3–2 −0.3429
Pt1–2 0.83528 Pt2–2 −15.3009 Pt3–2 −19.4786
Gt1–3 0.2575 Gt2–3 0.1294 Gt3–3 0.2056
Pt1–3 14.0258 Pt2–3 16.0701 Pt3–3 20.9271
Gt1–4 −0.2058 Gt2–4 −0.1458 Gt3–4 −0.0987
Pt1–4 −32.8371 Pt2–4 −14.3280 Pt3–4 −17.7680
Gt1–5 0.5034c Gt2–5 0.5085c Gt3–5 0.4119c
Pt1–5 58.729 Pt2–5 19.7339 Pt3–5 23.3926
Gt1–6 −0.4226c Gt2–6 −0.4061c Gt3–6 −0.4240c
Pt1–6 4.2763 Pt2–6 −30.5661 Pt3–6 −31.6223
Gt1–7 −0.0357 Gt2–7 −0.0076 Gt3–7 0.0390
Pt1–7 −63.3119b Pt2–7 −62.1916b Pt3–7 −50.3626b
  1. asignificant at 0.1% level; bsignificant at 1% level; csignificant at 5% level