(1)

(2)

(3)

ROA

ROA

ROA

EPU

−0.0772***

−0.0374***

−0.0432***

(0.00)

(0.01)

(0.01)

DPL

0.0193

0.1157

(0.09)

(0.09)

Size

−0.2264***

0.0026

(0.04)

(0.08)

Shbor10

−0.0023*

−0.0020*

(0.00)

(0.00)

Pergdp

−0.3721***

(0.13)

M2

0.3425

(0.53)

CPI

5.7923***

(1.59)

_cons

1.2249***

7.0214***

1.1146

(0.02)

(1.05)

(2.19)

Fixed-Effect

Y

Y

Y

N

1589

1268

1268

R2

0.2321

0.0107

0.2755

F

241.46

55.79

33.70