Table 3. Descriptive statistics of d...

Table 3.

Descriptive statistics of d parameter (stock prices and search trends, individually)

	d parameter
Stock prices	Average	Max	Min	SD	% of firms for which breakpoint is significant
19 May 2004	0.51505	1	0.44659	0.13458	27
14 September 2005	0.46066	0.06872	0.49286	0.10852	33
18 September 2006	0.48390	0.49154	0.46280	0.00969	40
25 September 2007	0.46723	0.49356	0.39638	0.02660	13
22 September 2008	0.48106	0.49654	0.46507	0.00708	33
21 September 2009	0.43497	0.49033	0.11966	0.09786	13
20 September 2010	0.47650	0.48842	0.44955	0.01013	0
14 September 2011	0.48133	0.49061	0.46917	0.00571	13
12 September 2012	0.45903	0.49132	0.31917	0.04405	47
12 September 2013	0.48024	0.49130	0.46431	0.00812	33
15 October 2014	0.48022	0.49139	0.45070	0.01129	27
Search trends
19 May 2004	0.46953	1	0.10417	0.22892	20
14 September 2005	0.43091	1	0.11115	0.19486	13
18 September 2006	0.45851	1	0.10448	0.17994	13
25 September 2007	0.45563	1	0.10986	0.17964	7
22 September 2008	0.46754	1	0.28052	0.15872	20
21 September 2009	0.44110	1	0.22614	0.17685	7
20 September 2010	0.43404	1	0.25088	0.17816	7
14 September 2011	0.43409	1	0.21639	0.17997	7
12 September 2012	0.44503	1	0.10607	0.25273	0
12 September 2013	0.43179	1	0.06908	0.26095	13
15 October 2014	0.38445	1	0.11148	0.19839	13

	d parameter
Stock prices	Average	Max	Min	SD	% of firms for which breakpoint is significant
19 May 2004	0.51505	1	0.44659	0.13458	27
14 September 2005	0.46066	0.06872	0.49286	0.10852	33
18 September 2006	0.48390	0.49154	0.46280	0.00969	40
25 September 2007	0.46723	0.49356	0.39638	0.02660	13
22 September 2008	0.48106	0.49654	0.46507	0.00708	33
21 September 2009	0.43497	0.49033	0.11966	0.09786	13
20 September 2010	0.47650	0.48842	0.44955	0.01013	0
14 September 2011	0.48133	0.49061	0.46917	0.00571	13
12 September 2012	0.45903	0.49132	0.31917	0.04405	47
12 September 2013	0.48024	0.49130	0.46431	0.00812	33
15 October 2014	0.48022	0.49139	0.45070	0.01129	27
Search trends
19 May 2004	0.46953	1	0.10417	0.22892	20
14 September 2005	0.43091	1	0.11115	0.19486	13
18 September 2006	0.45851	1	0.10448	0.17994	13
25 September 2007	0.45563	1	0.10986	0.17964	7
22 September 2008	0.46754	1	0.28052	0.15872	20
21 September 2009	0.44110	1	0.22614	0.17685	7
20 September 2010	0.43404	1	0.25088	0.17816	7
14 September 2011	0.43409	1	0.21639	0.17997	7
12 September 2012	0.44503	1	0.10607	0.25273	0
12 September 2013	0.43179	1	0.06908	0.26095	13
15 October 2014	0.38445	1	0.11148	0.19839	13