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Financial Innovation

Table 7 Granger causality for pair variables in the specific models

From: Relationship between fintech by Google search and bank stock return: a case study of Vietnam

Panel 7.1

BankReturn

FinFintech

Panel 7.2

BankReturn

FinPayment

BankReturn

–

5.298*

BankReturn

–

4.4872**

FinFintech

3.4975

–

FinPayment

2.8908*

–

Panel 7.3

BankReturn

FinLending

Panel 7.4

BankReturn

FinMoney

BankReturn

–

18.42***

BankReturn

–

0.6059

FinLending

23.696***

–

FinMoney

4.3291

–

Panel 7.5

BankReturn

FinWallet

Panel 7.6

BankReturn

FinProduct

BankReturn

–

6.3459**

BankReturn

–

0.25404

FinWallet

2.4163

–

FinProduct

2.4719

–

  1. *, **, and *** are significant at the 10%, 5%, and 1% levels, respectively
  2. The null hypothesis is that the variable in the row is not a Granger cause variable in the column
  3. Source: The Authors
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