Table 2 The study’ variables Variables... | Emerald Publishing

Table 2

The study’ variables

Variables	Description	Measurement	Prior studies	Source
Dependent variable
EGX30	Daily Egyptian stock market return	EGXR_t = $\frac{E G X P t - E G X P t - 1}{E G X P t - 1} X 100$ EGXR_t: EGX daily return at time t, EGXP_t: EGX price at time t; EGXP_t−1: EGX price at time t−1	Omran (2003), Naceur and Omran (2008)	Egyptian Stock Exchange website
Independent variables
BTCR	Daily Bitcoin return	BTCR_t = $\frac{B T C P t - B T C P t - 1}{B T C P t - 1} X 100$ BTCR_t: Bitcoin daily return at time t, BTCP_t: Bitcoin price at time t, BTCP_t−1: Bitcoin price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
BNBR	Daily Binance Coin return	BNBR_t = $\frac{B N B P t - B N B P t - 1}{B N B P t - 1} X 100$ BNBR_t: Binance daily return at time t, BNBP_t: Binance price at time t, BNBP_t−1: Binance price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
ETHR	Daily Ethereum Coin return	ETHR_t = $\frac{E T H P t - E T H P t - 1}{E T H P t - 1} X 100$ ETHR_t: Ethereum daily return at time t, ETHP_t: Ethereum price at time t, ETHP_t−1: Ethereum price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
NEOR	Daily Neo Coin return	NEOR_t = $\frac{NEOPt - NEOPt - 1}{NEOPt - 1} X 100$ NEOR_t: Neo daily return at time t, NEOP_t: Neo price at time t, NEOP_t−1: Neo price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
Control variables
INTR	Interbank interest rate for each tenor is the weighted average rate for all transactions within this tenor. Overnight interbank interest rates are the operational target of monetary policy	$\frac{\sum (V j . R j)}{\sum Vj}$ I_i: Interbank interest rate for tenor iii V_j: Volume of transaction, R_j: Rate of transaction	Bernanke and Blinder (1992), Mishkin (2011)	Central bank of Egypt (CBE)
USD	Exchange rate is a relative price of one currency (US dollar) expressed in terms of another currency (Egyptian pounds)	$E t = \frac{1}{F X t}$ FX_t is the relative value of Egyptian Pounds to USD	Obstfeld and Rogoff (1995), Meese and Rogoff (1983)	Central bank of Egypt (CBE)

Variables	Description	Measurement	Prior studies	Source
Dependent variable
EGX30	Daily Egyptian stock market return	EGXR_t = $\frac{E G X P t - E G X P t - 1}{E G X P t - 1} X 100$ EGXR_t: EGX daily return at time t, EGXP_t: EGX price at time t; EGXP_t−1: EGX price at time t−1	Omran (2003), Naceur and Omran (2008)	Egyptian Stock Exchange website
Independent variables
BTCR	Daily Bitcoin return	BTCR_t = $\frac{B T C P t - B T C P t - 1}{B T C P t - 1} X 100$ BTCR_t: Bitcoin daily return at time t, BTCP_t: Bitcoin price at time t, BTCP_t−1: Bitcoin price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
BNBR	Daily Binance Coin return	BNBR_t = $\frac{B N B P t - B N B P t - 1}{B N B P t - 1} X 100$ BNBR_t: Binance daily return at time t, BNBP_t: Binance price at time t, BNBP_t−1: Binance price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
ETHR	Daily Ethereum Coin return	ETHR_t = $\frac{E T H P t - E T H P t - 1}{E T H P t - 1} X 100$ ETHR_t: Ethereum daily return at time t, ETHP_t: Ethereum price at time t, ETHP_t−1: Ethereum price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
NEOR	Daily Neo Coin return	NEOR_t = $\frac{NEOPt - NEOPt - 1}{NEOPt - 1} X 100$ NEOR_t: Neo daily return at time t, NEOP_t: Neo price at time t, NEOP_t−1: Neo price at time t−1	Cheah and Fry (2015), Urquhart (2016)	Investing.com website
Control variables
INTR	Interbank interest rate for each tenor is the weighted average rate for all transactions within this tenor. Overnight interbank interest rates are the operational target of monetary policy	$\frac{\sum (V j . R j)}{\sum Vj}$ I_i: Interbank interest rate for tenor iiiV_j: Volume of transaction, R_j: Rate of transaction	Bernanke and Blinder (1992), Mishkin (2011)	Central bank of Egypt (CBE)
USD	Exchange rate is a relative price of one currency (US dollar) expressed in terms of another currency (Egyptian pounds)	$E t = \frac{1}{F X t}$ FX_t is the relative value of Egyptian Pounds to USD	Obstfeld and Rogoff (1995), Meese and Rogoff (1983)	Central bank of Egypt (CBE)