Regression results
| Dependent variable | ||||
|---|---|---|---|---|
| log(Φ500) | log(Φ100) | log(Φ50) | log(Φmax) | |
| (1) | (2) | (3) | (4) | |
| K | −0.040*** | −0.037*** | −0.036*** | −0.042*** |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| C | −0.021*** | −0.020*** | −0.021*** | −0.022*** |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| S | −0.037*** | −0.035*** | −0.035*** | −0.038*** |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| K ⋅ C | 0.010*** | 0.009*** | 0.009*** | 0.011*** |
| (0.0005) | (0.0005) | (0.0005) | (0.0005) | |
| K ⋅ S | 0.016*** | 0.014*** | 0.013*** | 0.017*** |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| C ⋅ S | −0.022*** | −0.026*** | −0.026*** | −0.019*** |
| (0.0005) | (0.0005) | (0.0005) | (0.0005) | |
| NS | −0.017*** | −0.012*** | −0.010*** | −0.017*** |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| NS ⋅ ρ | 0.012*** | 0.011*** | 0.010*** | 0.010*** |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| Intercept | 0.018*** | 0.001 | −0.014*** | 0.028*** |
| (0.003) | (0.003) | (0.003) | (0.003) | |
| Observations | 2,000 | 2,000 | 2,000 | 2,000 |
| R2 | 0.897 | 0.924 | 0.922 | 0.870 |
| Adjusted R2 | 0.897 | 0.924 | 0.921 | 0.870 |
| Dependent variable | ||||
|---|---|---|---|---|
| log(Φ500) | log(Φ100) | log(Φ50) | log(Φmax) | |
| (1) | (2) | (3) | (4) | |
| −0.040*** | −0.037*** | −0.036*** | −0.042*** | |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| −0.021*** | −0.020*** | −0.021*** | −0.022*** | |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| −0.037*** | −0.035*** | −0.035*** | −0.038*** | |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| 0.010*** | 0.009*** | 0.009*** | 0.011*** | |
| (0.0005) | (0.0005) | (0.0005) | (0.0005) | |
| 0.016*** | 0.014*** | 0.013*** | 0.017*** | |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| −0.022*** | −0.026*** | −0.026*** | −0.019*** | |
| (0.0005) | (0.0005) | (0.0005) | (0.0005) | |
| −0.017*** | −0.012*** | −0.010*** | −0.017*** | |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| 0.012*** | 0.011*** | 0.010*** | 0.010*** | |
| (0.001) | (0.001) | (0.001) | (0.001) | |
| Intercept | 0.018*** | 0.001 | −0.014*** | 0.028*** |
| (0.003) | (0.003) | (0.003) | (0.003) | |
| Observations | 2,000 | 2,000 | 2,000 | 2,000 |
| 0.897 | 0.924 | 0.922 | 0.870 | |
| Adjusted | 0.897 | 0.924 | 0.921 | 0.870 |
Note(s): *p0.1; **p0.05; ***p0.01
Source(s): Ravshanbek Khodzhimatov, Stephan, Leitner, Friederike Wall