Table 1 Descriptive statistics of the carbon emission trading markets.

From: Dynamic information spillover between Chinese carbon and stock markets under extreme weather shocks

 

Logarithmic return

Observations

Average trading

volume

Mean

Std. dev.

Skewness

Kurtosis

Jarque-Bera

statistic

Guangdong

6.89 × 10−5

0.04

−0.35

1.63

236.12***

1806

104,269

Hubei

3.60 × 10−4

0.03

−0.30

4.72

1,855.51***

1978

39,554

Shenzhen

1.04 × 10−4

0.28

0.34

31.17

120,569.99***

2988

15,786

Shanghai

2.72 × 10−4

0.07

0.72

47.91

113,425.53***

1195

13,240

Fujian

−1.99 × 10−4

0.07

−0.02

0.03

0.0642

769

23,968

Chongqing

3.01 × 10−5

0.11

−0.26

−0.84

30.60***

758

13,102

Tianjin

−2.48 × 10−4

0.07

0.09

41.93

52,503.22***

727

31,032

Beijing

3.55 × 10−4

0.12

0.10

25.36

30,690.21***

1156

13,653

  1. Note: Returns are calculated as natural logarithms of inter-day price ratios. *** denotes the null hypothesis of time series following normal distribution is rejected at the 1% significance levels. Trading volume statistics in the carbon markets are recorded in unit of tons.
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