Table 2 Information Criteria comparison... | Emerald Publishing

Table 2

Information Criteria comparison

Variable	Best order (AIC)	Best order (BIC)	Avg log-likelihood (order 1)	Avg log-likelihood (order 2)	Avg log-likelihood (order 3)
ICLN	1	1	−1.600	−1.565	−1.451
EPU	1	1	−1.508	−1.463	−1.374
BGRN	1	1	−1.599	−1.565	−1.448
EFFR	1	1	−0.056	−0.061	−0.066
EFFR_Volume	1	1	−1.584	−1.555	−1.432
Energy	1	1	−1.602	−1.566	−1.442

Variable	Best order (AIC)	Best order (BIC)	Avg log-likelihood (order 1)	Avg log-likelihood (order 2)	Avg log-likelihood (order 3)
ICLN	1	1	−1.600	−1.565	−1.451
EPU	1	1	−1.508	−1.463	−1.374
BGRN	1	1	−1.599	−1.565	−1.448
EFFR	1	1	−0.056	−0.061	−0.066
EFFR_Volume	1	1	−1.584	−1.555	−1.432
Energy	1	1	−1.602	−1.566	−1.442

Source(s): Computed by the authors