Table 4 Regression results INEF OLS FEM... | Emerald Publishing

Table 4

Regression results

INEF	OLS	FEM	REM	SGMM
INEF	Coef.	Coef.	Coef.	Coef.
CONSTANT	−0.060 (0.046)	0.511 (0.185)**	−0.065 (0.059)	0.654 (0.262)**
L1.		–		0.004 (0.051)
CSD	0.068 (0.026)**	0.200 (0.053)**	0.096 (0.031)**	0.241 (0.089)**
INOW	0.098 (0.045)**	0.168 (0.079)**	0.105 (0.054)**	0.278 (0.128)**
FS	−0.008 (0.003)**	−0.073 (0.168)**	−0.010 (0.004)**	−0.096 (0.021)**
FA	0.002 (0.004)	−0.002 (0.020)	0.004 (0.005)	0.010 (0.037)
LEV	−0.036 (0.018)**	−0.130 (0.032)**	−0.055 (0.022)**	−0.298 (0.045)**
ROA	0.156 (0.049)**	0.354 (0.055)**	0.220 (0.052)**	0.532 (0.072)**
BFE	0.040 (0.019)**	0.087 (0.031)**	0.056 (0.022)**	0.113 (0.044)**
BGD	0.098 (0.028)**	0.127 (0.040)**	0.108 (0.032)**	0.123 (0.054)**
R-squared	0.1650	0.1024	0.1635
F/wald χ²	9.91	20.12	92.07	237.60
Prob > F/Wald χ²	0.000	0.000	0.000	0.000
Hausman χ²	–		85.46
Prob > χ²	–		0.000
AR(1)	–	–	–	0.03
AR(2)	–	–	–	0.937
Sargan	–	–	–	0.335
Hansen	–	–	–	0.349

INEF	OLS	FEM	REM	SGMM
INEF	Coef.	Coef.	Coef.	Coef.
CONSTANT	−0.060 (0.046)	0.511 (0.185)**	−0.065 (0.059)	0.654 (0.262)**
L1.		–		0.004 (0.051)
CSD	0.068 (0.026)**	0.200 (0.053)**	0.096 (0.031)**	0.241 (0.089)**
INOW	0.098 (0.045)**	0.168 (0.079)**	0.105 (0.054)**	0.278 (0.128)**
FS	−0.008 (0.003)**	−0.073 (0.168)**	−0.010 (0.004)**	−0.096 (0.021)**
FA	0.002 (0.004)	−0.002 (0.020)	0.004 (0.005)	0.010 (0.037)
LEV	−0.036 (0.018)**	−0.130 (0.032)**	−0.055 (0.022)**	−0.298 (0.045)**
ROA	0.156 (0.049)**	0.354 (0.055)**	0.220 (0.052)**	0.532 (0.072)**
BFE	0.040 (0.019)**	0.087 (0.031)**	0.056 (0.022)**	0.113 (0.044)**
BGD	0.098 (0.028)**	0.127 (0.040)**	0.108 (0.032)**	0.123 (0.054)**
R-squared	0.1650	0.1024	0.1635
F/wald χ²	9.91	20.12	92.07	237.60
Prob > F/Wald χ²	0.000	0.000	0.000	0.000
Hausman χ²	–		85.46
Prob > χ²	–		0.000
AR(1)	–	–	–	0.03
AR(2)	–	–	–	0.937
Sargan	–	–	–	0.335
Hansen	–	–	–	0.349

Note(s): **p < 0.05, standard error (Std. Err.) in parentheses

Source(s): Author’s own computation