Table 5

Unit root test results of trading volume series in I (0) form

CountriesADF test statisticsTest critical valuesProbability
1%5%10%
Australia−5.710−3.967−3.414−3.1290.000
Austria−8.701−3.967−3.414−3.1290.000
Belgium−6.421−3.967−3.414−3.1290.000
Brazil−4.974−3.967−3.414−3.1290.000
Canada−6.678−3.967−3.414−3.1290.000
China−5.798−3.967−3.414−3.1290.000
France−6.514−3.967−3.414−3.1290.000
Germany−6.715−3.967−3.414−3.1290.000
Netherlands−5.641−3.967−3.414−3.1290.000
Italy−6.671−3.967−3.414−3.1290.000
İreland−6.262−3.967−3.414−3.1290.000
Japan−6.270−3.967−3.414−3.1290.000
Malaysia−9.154−3.967−3.414−3.1290.000
Poland−6.430−3.967−3.414−3.1290.000
Portugal−7.920−3.967−3.414−3.1290.000
Qatar−5.126−3.967−3.414−3.1290.000
South Korea−4.201−3.967−3.414−3.1290.005
Spain−6.379−3.967−3.414−3.1290.000
Sweden−7.659−3.967−3.414−3.1290.000
Switzerland−6.762−3.967−3.414−3.1290.000
Tunisia−8.106−3.967−3.414−3.1290.000
Turkey−6.799−3.967−3.414−3.1290.000
UAE−6.271−3.967−3.414−3.1290.000
UK−6.733−3.967−3.414−3.1290.000
USA−5.644−3.967−3.414−3.1290.000
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