Therefore, four different models were analyzed for each stock: a traditional APARCH one and another three incorporating each one of the exogenous variables
, as indicated in Table 4.
The vector of endogenous domestic variables in the basic model consists of aggregate and sectoral output (Output), index of domestic prices (Price), and an indicator of the monetary policy stance, i.e., overnight weighted call money rate (INT), while the vector of exogenous variables
consists of oil price index (OIL), federal fund rate (FFR) and GDP of the USA (USGDP).
As all P-Values for path coefficients between exogenous variables
(SHEM, and EA) and endogenous variable (EA) are less than (0.05).
The five publicly available BASIC scores are input in the model as exogenous variables
, and Crash-per-Million-Miles is designated as the endogenous variable.
As exogenous variables
, government support, perceived risk, and education attainment influence subjective norms, PEU, and PU.
However, state behavior can be influenced by exogenous variables
that shift the behavior of actors.
VAR models enable modeling of the futures prices based on a selection of endogenous or exogenous variables
Thus, both of the variance and covariance of observed variables (i.e., the indexes of the endogenous variables and exogenous variables
) are the parameter functions of the model.
SEM models include both endogenous and exogenous variables
. Endogenous variables act as a dependent variable in at least one of the SEM equations; they are called endogenous variables rather than response variables because they may become independent variables in other equations within the SEM equations.
As suggested by Meier (2006), there are nevertheless theoretical and empirical reasons to extend this model, including exogenous variables
. The regulation can also affect insurance pricing (Berry-Stolzle and Born, 2010).
of consideration, coordination, and skill had significant effect on academic performance with regression coefficients of .16, -.07, and .08, respectively.
[Y.sub.t.sup.s]: Value of the endogenous variable simulated after shock [Y.sub.t.sup.b]: Value of the base endogenous variable [DELTA]X: Variation in the exogenous variable