List of variables
| Variable | Definition | Proxy/Measurement |
|---|---|---|
| ROA | Profitability | Return on assets (ROA): net income/total assets |
| L.ROA | Lagged profitability | Capture the influence of past profitability |
| DIG | Digitalized banking | Share of population using internet banking |
| COV | COVID crisis | Dummy variable: 1 for period 2020–2022, 0 otherwise |
| CAP | Capital ratio of the bank | Equity/Total Assets |
| SIZ | Size of the bank | Natural logarithm of total assets |
| AGE | Age of the bank | Natural logarithm of years since establishment |
| GDP | Real GDP | Inflation-adjusted GDP (economic output) |
| MSP | Broad money supply (M3) | Growth of cash, deposits and other liquid assets |
| BSD | Banking sector development | Banks total assets/GDP |
| Variable | Definition | Proxy/Measurement |
|---|---|---|
| ROA | Profitability | Return on assets (ROA): net income/total assets |
| L.ROA | Lagged profitability | Capture the influence of past profitability |
| DIG | Digitalized banking | Share of population using internet banking |
| COV | COVID crisis | Dummy variable: 1 for period 2020–2022, 0 otherwise |
| CAP | Capital ratio of the bank | Equity/Total Assets |
| SIZ | Size of the bank | Natural logarithm of total assets |
| AGE | Age of the bank | Natural logarithm of years since establishment |
| GDP | Real GDP | Inflation-adjusted GDP (economic output) |
| MSP | Broad money supply (M3) | Growth of cash, deposits and other liquid assets |
| BSD | Banking sector development | Banks total assets/GDP |
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