Table 8 Double bootstrap truncated regression results: input-oriented technical efficiency

Time

0.96***

(0.01)

1.43***

(0.00)

1.03***

(0.00)

1.49***

(0.00)

0.63**

(0.01)

0.79***

(0.01)

0.68***

(0.01)

0.82***

(0.01)

0.78**

(0.04)

0.84**

(0.04)

0.82**

(0.03)

− 0.86**

(0.03)

Positive

100

Size

− 23.76***

(0.00)

− 32.71***

(0.00)

− 24.65***

(0.00)

− 33.24***

(0.00)

–

–

–

–

–

–

–

–

Negative

100

N_B

–

–

–

–

− 0.16***

(0.00)

− 0.19***

(0.00)

− 0.16***

(0.00)

− 0.19***

(0.00)

–

–

–

–

Negative

100

Staffing

–

–

–

–

–

–

–

–

− 0.50**

(0.01)

− 0.56***

(0.01)

− 0.50***

(0.01)

− 0. 56***

(0.01)

Negative

100

ROA

–

–

1.65**

(0.02)

1.70**

(0.02)

–

–

1.45**

(0.04)

1.37*

(0.05)

–

–

1.25*

(0.1)

1.21**

(0.11)

Positive

83

ROE

0.01

(0.30)

0.01

(0.27)

–

–

0.01

(0.52)

0.01

(0. 60)

–

–

0.01

(0.55)

0.01

(0.59)

–

–

Non-significant

100

EIR

0.14

(0.35)

0.25*

(0.08)

0.17

(0.24)

0.28**

(0.05)

0.00

(1.00)

0.08

(0.58)

0.02

(0.85)

0.10

(0.46)

0.12

(0.40)

0.22

(0.16)

0.15

(0.32)

0.24

(0.12)

Positive

17

LDR

0.10

(0.18)

–

0.10

(0.15)

–

0.10

(0.12)

–

0.11

(0.11)

–

0.16**

(0.03)

–

0.16**

(0.02)

–

Positive

33

LAR

–

− 0.24*

(0.07)

–

− 0.24*

(0.07)

–

− 0.16

(0.18)

–

− 0.14

(0.21)

–

− 0.04

(0.74)

–

− 0.03

(0.79)

Negative

33

CAR

1.38***

(0.00)

1.58***

(0.00)

1.04**

(0.02)

1.24***

(0.00)

1.46***

(0.00)

1.74***

(0.00)

1.14***

(0.01)

1.42***

(0.00)

1.39***

(0.00)

1.73***

(0.00)

1.12**

(0.01)

1.47***

(0.00)

Positive

100

Inflation

0.90

(0.51)

0.68

(0.63)

0.67

(0.60)

0.46

(0.72)

1.40

(0.25)

1.47

(0.25)

1.12

(0.35)

1.20

(0.34)

1.39

(0.33)

1.72

(0.25)

1.18

(0.38)

1.51

(0.30)

Non-significant

100

Growth

− 0.89

(0.17)

− 1.03

(0.10)

− 0.78

(0.20)

− 0.93

(0.13)

− 0.90

(0.14)

− 1.03*

(0.08)

− 0.76

(0.18)

− 0.89

(0.13)

− 0.85

(0.21)

− 1.00

(0.14)

− 0.74

(0.25)

− 0.90

(0.17)

Negative

8

Ownership

− 4.19

(0.14)

− 8.35***

(0.00)

− 4.48*

(0.10)

− 8.55***

(0.00)

− 2.56

(0.27)

− 5.47***

(0.01)

− 2.61

(0.24)

− 5.44***

(0.01)

− 1.82

(0.50)

− 5.27**

(0.03)

− 1.85

(0.47)

− 5.23**

(0.02)

Significant

53

Revolution

− 3.40

(0.43)

− 3.74

(0.38)

− 2.95

(0.48)

− 3.24

(0.44)

− 3.90

(0.33)

− 4.46

(0.27)

− 3.41

(0.36)

− 3.97

(0.32)

− 2.31

(0.61)

− 2.80

(0.54)

− 1.95

(0.66)

− 2.44

(0.59)

Non-significant

100

Constant

− 1698**

(0.01)

− 2564***

(0.00)

− 1842***

(0.00)

− 2672***

(0.00)

− 1180**

(0.02)

− 1474**

(0.01)

− 1276***

(0.01)

− 1527***

(0.01)

− 1497**

(0.04)

− 1599*

(0.05)

− 1574**

(0.03)

− 1648**

(0.04)

Negative

100