Assessment of endogeneity
| Test | Construct | Coefficients | p-value |
|---|---|---|---|
| Gaussian copula of Model 1 (endogenous variables; ES) | ES → LS | 0.347 | 0.000 |
| FS → LS | 0.204 | 0.015 | |
| COP → LS | 0.162 | 0.000 | |
| GC (ES) → LS | −0.083 | 0.500 | |
| Gaussian copula of Model 2 (endogenous variables; FS) | ES → LS | 0.211 | 0.021 |
| FS → LS | 0.531 | 0.030 | |
| COP → LS | 0.106 | 0.000 | |
| GC (FS) → LS | −0.279 | 0.177 | |
| Gaussian copula of Model 3 (endogenous variables; COP) | ES → LS | 0.281 | 0.019 |
| FS → LS | 0.241 | 0.015 | |
| COP → LS | 0.136 | 0.000 | |
| GC (COP) → LS | 0.057 | 0.631 | |
| Gaussian copula of Model 4 (endogenous variables; ES, FS) | ES → LS | 0.303 | 0.000 |
| FS → LS | 0.213 | 0.037 | |
| COP → LS | 0.159 | 0.000 | |
| GC (ES) → LS | −0.073 | 0.565 | |
| GC (FS) → LS | −0.273 | 0.190 | |
| Gaussian copula of Model 5 (endogenous variables; ES, COP) | ES → LS | 0.345 | 0.000 |
| FS → LS | 0.216 | 0.045 | |
| COP → LS | 0.137 | 0.000 | |
| GC (ES) → LS | −0.069 | 0.616 | |
| GC (COP) → LS | 0.025 | 0.854 | |
| Gaussian copula of Model 6 (endogenous variables; FS, COP) | ES → LS | 0.181 | 0.000 |
| FS → LS | 0.254 | 0.032 | |
| COP → LS | 0.149 | 0.000 | |
| GC (FS) → LS | −0.314 | 0.190 | |
| GC (COP) → LS | −0.040 | 0.781 | |
| Gaussian copula of Model 7 (endogenous variables; ES, FS, COP) | ES → LS | 0.295 | 0.000 |
| FS → LS | 0.367 | 0.026 | |
| COP → LS | 0.152 | 0.000 | |
| GC (ES) → LS | −0.069 | 0.637 | |
| GC (FS) → LS | −0.331 | 0.127 | |
| GC (COP) → LS | 0.039 | 0.806 |
| Test | Construct | Coefficients | |
|---|---|---|---|
| Gaussian copula of Model 1 (endogenous variables; ES) | ES → LS | 0.347 | 0.000 |
| FS → LS | 0.204 | 0.015 | |
| COP → LS | 0.162 | 0.000 | |
| GC (ES) → LS | −0.083 | 0.500 | |
| Gaussian copula of Model 2 (endogenous variables; FS) | ES → LS | 0.211 | 0.021 |
| FS → LS | 0.531 | 0.030 | |
| COP → LS | 0.106 | 0.000 | |
| GC (FS) → LS | −0.279 | 0.177 | |
| Gaussian copula of Model 3 (endogenous variables; COP) | ES → LS | 0.281 | 0.019 |
| FS → LS | 0.241 | 0.015 | |
| COP → LS | 0.136 | 0.000 | |
| GC (COP) → LS | 0.057 | 0.631 | |
| Gaussian copula of Model 4 (endogenous variables; ES, FS) | ES → LS | 0.303 | 0.000 |
| FS → LS | 0.213 | 0.037 | |
| COP → LS | 0.159 | 0.000 | |
| GC (ES) → LS | −0.073 | 0.565 | |
| GC (FS) → LS | −0.273 | 0.190 | |
| Gaussian copula of Model 5 (endogenous variables; ES, COP) | ES → LS | 0.345 | 0.000 |
| FS → LS | 0.216 | 0.045 | |
| COP → LS | 0.137 | 0.000 | |
| GC (ES) → LS | −0.069 | 0.616 | |
| GC (COP) → LS | 0.025 | 0.854 | |
| Gaussian copula of Model 6 (endogenous variables; FS, COP) | ES → LS | 0.181 | 0.000 |
| FS → LS | 0.254 | 0.032 | |
| COP → LS | 0.149 | 0.000 | |
| GC (FS) → LS | −0.314 | 0.190 | |
| GC (COP) → LS | −0.040 | 0.781 | |
| Gaussian copula of Model 7 (endogenous variables; ES, FS, COP) | ES → LS | 0.295 | 0.000 |
| FS → LS | 0.367 | 0.026 | |
| COP → LS | 0.152 | 0.000 | |
| GC (ES) → LS | −0.069 | 0.637 | |
| GC (FS) → LS | −0.331 | 0.127 | |
| GC (COP) → LS | 0.039 | 0.806 |
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