Table 6 Diversification and risk

L.SHROA

0.945

_

(7.16)***

_

L.SHROE

_

0.753

_

(79.23)***

SIZE

0.000

−0.002

(0.05)

(0.22)

LR

−0.000

−0.004

(0.76)

(4.51)***

LS

0.027

0.211

(1.03)

(5.63)***

CAPR

0.016

0.061

(4.13)***

(4.66)***

CD

0.016

0.326

(1.33)

(4.17)***

HHI

−0.992

−0.963

(2.62)***

(0.73)

GDP

−0.062

−0.250

(3.52)***

(3.09)***

INF

0.007

0.067

(0.11)

(0.13)

NII

0.153

−1.943

(0.82)

(2.16)**

CRISIS

−0.008

−0.030

(7.36)***

(1.77)*

Wald chi2(65)

648,248.50

69,907.80

Prob > chi2

0.0000***

0.0000***

AB test for AR (1)

−1.5223

−1.8824

p-value

0.08021**

0.0926*

AB test for AR(2)

0.6211

0.6210

p-value

0.2641

0.7222

Sargan test

12.9043

11.5157

p-value

0.8828

0.7591

N

200

200