Table 7 Logistic regression estimates...

Table 7

Logistic regression estimates

Regression estimates
	ZSCR	SBY Leadership	JKW leadership period 1	JKW leadership period 2	JKW leadership
Variable	Model 1	Model 2	Model 3	Model 4	Model 5
PC-SB	0.384*** (−5.29)	0.106*** (−3.28)	0.625** (−2.00)	0.257*** (−4.02)	0.464*** (−4.03)
RGYM	0.972 (−0.09)	–	–	–	–
BCZE	1.049*** (3.89)	1.124*** (3.75)	1.054*** (2.79)	1.026 (1.04)	1.039*** (2.81)
FAGE	1.014*** (6.65)	0.999 (−0.17)	1.019*** (5.50)	1.014*** (4.08)	1.015*** (6.63)
FSIZ	1.021 (1.73)	1.015 (0.25)	1.033* (1.88)	1.026 (0.56)	1.027* (1.68)
LVRG	0.982 (−1.36)	0.998 (−0.35)	0.991 (−0.56)	0.401*** (−6.18)	0.957** (−2.02)
SOE	0.779 (−1.48)	1.168 (0.44)	0.720 (−1.24)	0.713 (−1.05)	0.672** (−1.9s8)
INDY	Included	Included	Included	Included	Included
YIR	Included	Included	Included	Included	Included
Pseudo R²	0.048	0.143	0.046	0.064	0.034
Chi²	215.39	110.46	90.58	110.85	125.51
Prob > Chi²	0.000***	0.000***	0.000***	0.000***	0.000***
N	3,498	589	1,562	1,339	2,904

Regression estimates
	ZSCR	SBY Leadership	JKW leadership period 1	JKW leadership period 2	JKW leadership
Variable	Model 1	Model 2	Model 3	Model 4	Model 5
PC-SB	0.384*** (−5.29)	0.106*** (−3.28)	0.625** (−2.00)	0.257*** (−4.02)	0.464*** (−4.03)
RGYM	0.972 (−0.09)	–	–	–	–
BCZE	1.049*** (3.89)	1.124*** (3.75)	1.054*** (2.79)	1.026 (1.04)	1.039*** (2.81)
FAGE	1.014*** (6.65)	0.999 (−0.17)	1.019*** (5.50)	1.014*** (4.08)	1.015*** (6.63)
FSIZ	1.021 (1.73)	1.015 (0.25)	1.033* (1.88)	1.026 (0.56)	1.027* (1.68)
LVRG	0.982 (−1.36)	0.998 (−0.35)	0.991 (−0.56)	0.401*** (−6.18)	0.957** (−2.02)
SOE	0.779 (−1.48)	1.168 (0.44)	0.720 (−1.24)	0.713 (−1.05)	0.672** (−1.9s8)
INDY	Included	Included	Included	Included	Included
YIR	Included	Included	Included	Included	Included
Pseudo R²	0.048	0.143	0.046	0.064	0.034
Chi²	215.39	110.46	90.58	110.85	125.51
Prob > Chi²	0.000***	0.000***	0.000***	0.000***	0.000***
N	3,498	589	1,562	1,339	2,904

Note(s): Table 7 presents the results of the logistic regression estimation. Model 1 is the regression estimate using the years 2010–2022. Model 2 is the regression estimate for the SBY's leadership period from 2010–2013. Model 3 is the regression estimate for the JKW's first leadership period from 2014–2018 to. Model 4 is the regression estimate for the JKW's second leadership period from 2019–2022 to. Model 5 is the regression estimate for the JKW's leadership period, spanning both terms from 2014–2022 to. *** denotes a 1% significance level, ** denotes a 5% significance level, and * denotes a 10% significance level. all variable definitions

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