| Variable | VIF | 1/VIF |
| lnSub | 1.950 | 0.514 |
| Roe | 1.700 | 0.587 |
| Size | 1.690 | 0.590 |
| O_leve | 1.640 | 0.609 |
| HHI_A | 1.480 | 0.678 |
| F_leve | 1.340 | 0.747 |
| Top1 | 1.180 | 0.850 |
| DPR | 1.110 | 0.899 |
| Mean | VIF | 1.510 |