| Model 1 | Model 2 | Model 3 | Model 4 | Model 5 | Model 6 | Model 7 | Model 8 | Model 9 | Model 10 | Model 11 | Model 12 | Conclusion | Rate (%) |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Time | 0.62*** (0.00) | 0.94*** (0.00) | 0.64*** (0.00) | 0.96*** (0.00) | 0.09 (0.41) | 0.16 (0.14) | 0.10 (0.32) | 0.18 (0.11) | 0.32* (0.06) | 0.34** (0.05) | 0.33* (0.05) | 0.35* (0.05) | Positive | 67 |
Size | − 25.95*** (0.00) | − 30.66*** (0.00) | − 26.21*** (0.00) | − 30.81*** (0.00) | – | – | – | – | – | – | – | – | Negative | 100 |
N_B | – | – | – | – | − 0.13*** (0.00) | − 0.14*** (0.00) | − 0.13*** (0.00) | − 0.14*** (0.00) | – | – | – | – | Negative | 100 |
Staffing | – | – | – | – | – | – | – | – | − 0.47*** (0.00) | − 0.49*** (0.00) | − 0.47*** (0.00) | − 0.49*** (0.00) | Negative | 100 |
ROA | – | – | 0.45 (0.16) | 0.45 (0.12) | – | – | 0.17 (0.57) | 0.14 (0.64) | – | – | − 0.03 (0.94) | − 0.05 (0.91) | Non-significant | 100 |
ROE | 0.00 (0.62) | 0.00 (0.54) | – | – | − 0.00 (0.57) | − 0.00 (0.51) | – | – | − 0.00 (0.71) | − 0.00 (0.71) | – | – | Non-significant | 100 |
EIR | 0.12** (0.04) | 0.15*** (0.00) | 0.12** (0.03) | 0.16*** (0.00) | − 0.03 (0.54) | − 0.01 (0.80) | − 0.03 (0.58) | − 0.01 (0.83) | 0.09 (0.22) | 0.12* (0.08) | 0.09 (0.21) | 0.12* (0.08) | Positive | 50 |
LDR | 0.00 (1.00) | – | − 0.00 (0.97) | – | 0.03 (0.35) | – | 0.03 (0.36) | – | 0.06* (0.07) | – | 0.06** (0.06) | – | Positive | 33 |
LAR | – | − 0.22*** (0.00) | – | − 0.21*** (0.00) | – | − 0.10** (0.04) | – | − 0.09** (0.05) | – | − 0.03 (0.63) | – | − 0.03 (0.65) | Negative | 67 |
CAR | 0.42*** (0.01) | 0.40*** (0.01) | 0.33* (0.05) | 0.32** (0.04) | 0.60*** (0.00) | 0.66*** (0.00) | 0.54*** (0.00) | 0.60** (0.00) | 0.46** (0.02) | 0.57*** (0.00) | 0.44** (0.03) | 0.56*** (0.01) | Positive | 100 |
Inflation | 0.72 (0.21) | 0.36 (0.49) | 0.66 (0.23) | 0.32 (0.54) | 1.08** (0.04) | 1.00* (0.06) | 0.99* (0.06) | 0.91* (0.09) | 1.35** (0.05) | 1.44** (0.04) | 1.31* (0.06) | 1.40** (0.04) | Positive | 67 |
Growth | − 0.37 (0.15) | − 0.42* (0.07) | − 0.35 (0.17) | − 0.41* (0.08) | − 0.33 (0.17) | − 0.37 (0.13) | − 0.29 (0.23) | − 0.33 (0.16) | − 0.33 (0.27) | − 0.40 (0.19) | − 0.31 (0.30) | − 0.38 (0.21) | Negative | 17 |
Ownership | − 0.64 (0.54) | − 2.24** (0.01) | − 0.76 (0.48) | − 2.34*** (0.01) | 2.40*** (0.01) | 1.49* (0.06) | 2.39*** (0.01) | 1.51* (0.06) | 2.24* (0.07) | 0.90 (0.39) | 2.25* (0.06) | 0.92 (0.39) | Significant | 67 |
Revolution | − 1.32 (0.43) | − 1.05 (0.50) | − 1.26 (0.45) | − 0.98 (0.53) | − 1.84 (0. 25) | − 1.90 (0.24) | − 1.81 (0.25) | − 1.87 (0.24) | − 0.09 (0.97) | − 0.21 (0.92) | − 0.08 (0.97) | − 0.21 (0.92) | Non-significant | 100 |
Constant | − 989*** (0.00) | − 1595*** (0.00) | − 1021*** (0.00) | − 1617** (0.00) | − 73 (0.72) | − 221 (0.31) | − 104 (0.61) | − 246 (0.26) | − 552* (0.10) | − 583* (0.09) | − 575* (0.09) | − 602* (0.09) | Negative | 67 |