Table 5 Results of robustness test... | Emerald Publishing

Table 5

Results of robustness test

Variable	(1)		(2)		(3)
	lnZscore		NPLs		NPLs
	Coeff	Std. Error	Coeff	Std. Error	Coeff	Std. Error
L. lnZscore	0.716*	12.082			0.012	0.458
L.NPLs	–	–	0.584*	9.852
FBFI	−0.367**	−2.077	0.046***	1.728	0.055	0.745
FBFI²	0.069*	4.992	−0.006**	−1.746	−0.015***	−1.778
Control variables	YES		YES		YES
Fixed effects	YES		YES		NO
Constant	−15.255*	−2.541			4.467*	3.429
N	80		80		80
Arellano–Bond test for AR(1) in first differences: z = −3.49 Prob > z = 0.000
Arellano–Bond test for AR(2) in first differences: z = 0.18 Prob > z = 0.841
Hansen test of overid. restrictions: χ²(70) = 74.92 Prob > χ² = 0.275

Variable	(1)		(2)		(3)
	lnZscore		NPLs		NPLs
	Coeff	Std. Error	Coeff	Std. Error	Coeff	Std. Error
L. lnZscore	0.716*	12.082			0.012	0.458
L.NPLs	–	–	0.584*	9.852
FBFI	−0.367**	−2.077	0.046***	1.728	0.055	0.745
FBFI²	0.069*	4.992	−0.006**	−1.746	−0.015***	−1.778
Control variables	YES		YES		YES
Fixed effects	YES		YES		NO
Constant	−15.255*	−2.541			4.467*	3.429
N	80		80		80
Arellano–Bond test for AR(1) in first differences: z = −3.49 Prob > z = 0.000
Arellano–Bond test for AR(2) in first differences: z = 0.18 Prob > z = 0.841
Hansen test of overid. restrictions: χ²(70) = 74.92 Prob > χ² = 0.275

Source(s): Authors’ own creation