A Good Beginning Makes a Good Market: The Effect of Different Market Opening Structures on Market Quality

Table 2

Regression analysis market open.

	Model (1)	Model (2)	Model (3)
CM	−0.020 (0.006)^***	−0.016 (0.005)^***	−0.022 (0.004)^***
CMT	−0.013 (0.007)^**	−0.010 (0.006)^*	−0.024 (0.004)^***
Session dummies, period dummies, and interactions	Yes	Yes	Yes
Const.	0.087 (0.029)^***	0.058 (0.007)^***	0.076 (0.009)^***
	0.39	0.36	0.56
Adj.	0.08	0.03	0.34
	126	126	126

; ; . Standard errors clustered at the session level (in parentheses). Session and period dummy interaction coefficients omitted.