Table 4

Model diagnostics test

Test statisticsp-value
ROA model
Modified Wald test for groupwise heteroskedasticity1.1e+060.0000
Wooldridge test for autocorrelation in panel data6.7630.0103
Tobin's Q model
Modified Wald test for groupwise heteroskedasticity5.2e+060.0000
Wooldridge test for autocorrelation in panel data43.7520.0000
Source(s): Authors’ own work

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