变量

LLC

IPS

ADF-Fisher

PP-Fisher

LnCP_it

∆LnCP_it

1.14599

(0.8741)

−13.2237

(0.0000)

4.78212

(1.0000)

−9.06873

(0.0000)

12.8283

(0.9999)

139.022

(0.0000)

4.33990

(1.0000)

178.612

(0.0000)

LnY_it

∆LnY_it

2.96120

(0.9985)

−6.78361

(0.0000)

3.72317

(0.9999)

−5.10975

(0.0000)

10.7676

(0.9998)

77.8479

(0.0000)

17.0233

(0.9860)

96.8551

(0.0000)

LnS_it

∆LnS_it

−2.99321

(0.0523)

−11.8313

(0.0000)

0.06037

(0.5241)

−10.7856

(0.0000)

31.8713

(0.4731)

150.668

(0.0000)

40.6820

(0.1396)

196.793

(0.0000)

LnRD_it

∆LnRD_it

0.47922

(0.6841)

−12.3084

(0.0000)

0.30440

(0.6196)

−14.4917

(0.0000)

59.7382

(0.0021)

169.354

(0.0000)

129.154

(0.0000)

234.019

(0.0000)

LnZB_it

∆LnZB_it

12.9882

(1.0000)

11.6103

(0.0000)

10.4533

(1.0000)

3.80869

(0.0000)

23.8764

(0.8489)

49.0383

(0.0000)

26.1624

(0.7564)

95.0624

(0.0000)

LnZJ_it

∆LnZJ_it

13.5322

(1.0000)

4.43154

(0.0000)

9.25967

(1.0000)

0.20584

(0.0000)

12.7110

(0.9991)

64.6375

(0.0000)

13.5211

(0.9983)

63.0114

(0.0000)