变量

Model 1

Model 2

Model 3

Model 4

Model 5

Model 6

Model 7

Model 8

Model 9

L.lnz

0.911^***

0.951^***

0.941^***

0.826^***

0.759^***

0.879^***

0.835^***

0.812^***

0.773^***

(20.543)

(10.364)

(9.937)

(7.655)

(6.276)

(6.533)

(5.672)

(5.136)

(5.272)

CLO

0.083^***

0.100^***

0.098^***

0.069^**

0.083^***

0.093^***

0.076^**

0.073^**

0.060^*

(4.433)

(3.685)

(3.516)

(2.038)

(3.164)

(3.415)

(2.291)

(1.977)

(1.889)

LIQ

0.003^***

0.004^**

0.005^**

0.003

0.002

0.002

0.001

0.001

(3.389)

(2.301)

(2.374)

(1.356)

(0.882)

(0.897)

(0.573)

(0.579)

ROE

0.000

0.004

0.007

0.008

0.006

0.001

0.006

(0.137)

(0.647)

(1.109)

(1.292)

(1.040)

(0.058)

(0.327)

LNSIZE

0.025

−0.007

0.000

0.007

0.019

0.025

(0.769)

(−0.293)

(0.008)

(0.203)

(0.544)

(0.893)

LEV

−0.025^***

−0.005

−0.004

−0.007

−0.001

(−3.217)

(−0.259)

(−0.177)

(−0.388)

(−0.001)

Loan

−0.116

−0.178

−0.110

(−0.246)

(−0.377)

(−0.287)

Li

0.014

0.037

(0.283)

(0.705)

CPIL

−1.750

(−1.099)

_cons

0.361^*

−0.000

0.022

−0.255

1.379^*

−0.152

−0.086

−0.087

−0.255

(1.823)

(−0.001)

(0.048)

(−0.331)

(1.664)

(−0.110)

(−0.079)

(−0.080)

(−0.292)

N

189

189

189

189

189

189

189

189

189

ar1

0.021

0.017

0.018

0.022

0.008

0.014

0.022

0.020

0.014

ar2

0.142

0.154

0.160

0.180

0.244

0.238

0.249

0.214

0.196

Hansen

0.999

0.999

0.999

0.997

1.000

0.999

1.000

1.000

1.000