Table 3 Stationarity test Variables... | Emerald Publishing

Table 3

Stationarity test

Variables	Level	1st difference
Zscore	0.9589	0.0001***
ROE	0.4097	0.0001***
NPL	0.1190	0.0000***
LNDYB	0.1122	0.0000***
LNPP	0.1787	0.0000***
PRO	0.2878	0.0000***
OUT	0.0023***	0.0002***
FLLENDER	0.5017	0.0032***
FLBOR	0.0000***	0.0002***

Variables	Level	1st difference
Zscore	0.9589	0.0001***
ROE	0.4097	0.0001***
NPL	0.1190	0.0000***
LNDYB	0.1122	0.0000***
LNPP	0.1787	0.0000***
PRO	0.2878	0.0000***
OUT	0.0023***	0.0002***
FLLENDER	0.5017	0.0032***
FLBOR	0.0000***	0.0002***

Note(s): Significant level: *1%, **5% and ***1%

Source(s): Table by author