Unit root test
| Variables | ADF-Fisher (level) | p-value (level) | Order of integration |
|---|---|---|---|
| ROA | 234.61 | <0.01 | I(0) |
| CR | 38.32 | 0.007 | I(0) |
| STDEBT | 32.06 | 0.005 | I(0) |
| LTDEBT | 49.01 | <0.01 | I(0) |
| CAP | 90.12 | <0.01 | I(0) |
| CAPEX | 96.17 | <0.01 | I(0) |
| LSIZE | 125.51 | <0.01 | I(0) |
| AGE | 106.28 | <0.01 | I(0) |
| Variables | ADF-Fisher (level) | Order of integration | |
|---|---|---|---|
| 234.61 | <0.01 | I(0) | |
| 38.32 | 0.007 | I(0) | |
| 32.06 | 0.005 | I(0) | |
| 49.01 | <0.01 | I(0) | |
| 90.12 | <0.01 | I(0) | |
| 96.17 | <0.01 | I(0) | |
| 125.51 | <0.01 | I(0) | |
| 106.28 | <0.01 | I(0) |
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