(1)

(2)

(3)

(4)

(5)

ROA

ROA

ROA

ROA

ROA

EPU

−0.0432^***

−0.0828^***

−0.0663^***

−0.0622^***

−0.0736^***

(0.01)

(0.01)

(0.01)

(0.01)

(0.01)

DPL

0.1157

0.0719

0.0934

0.1024

0.0933

(0.09)

(0.09)

(0.09)

(0.09)

(0.09)

EPU*DTL

0.0374^***

(0.01)

RPU*DTLGL

3.5696^***

(0.95)

EPU*DTLZL

0.9444^***

(0.22)

EPU*DTLYW

2.2198^**

(0.90)

Size

0.0026

0.0087

0.0167

0.0063

0.0028

(0.08)

(0.08)

(0.08)

(0.08)

(0.08)

Shbor10

−0.0020^*

−0.0023^**

−0.0022^**

−0.0022^**

−0.0020^*

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

Pergdp

−0.3721^***

−0.4424^***

−0.4260^***

−0.4116^***

−0.4354^***

(0.13)

(0.13)

(0.13)

(0.13)

(0.13)

M2

0.3425

−0.2358

−0.0176

−0.0016

0.0055

(0.53)

(0.54)

(0.55)

(0.54)

(0.55)

CPI

5.7923^***

7.2062^***

6.8007^***

6.5508^***

6.8417^***

(1.59)

(1.58)

(1.56)

(1.56)

(1.69)

_cons

1.1146

1.3538

0.9961

1.2003

1.3489

(2.19)

(2.09)

(2.15)

(2.12)

(2.09)

Fixed-Effect

Y

Y

Y

Y

Y

N

1268

1268

1253

1253

1253

R²

0.2755

0.2685

0.2782

0.2661

0.2677

F

33.70

34.06

32.91

32.44

31.76