Table 10 Residual diagnostics Panel A:... | Emerald Publishing

Table 10

Residual diagnostics

Panel A: Residual serial correlation LM tests
Lag	LRE*stat	p-value	Rao F-stat	p-value
1	60.8091	0.0001	2.7026	0.0001
2	21.4739	0.6660	0.8541	0.6676
3	26.3727	0.3879	1.0634	0.3900
4	20.5839	0.7156	0.8167	0.7171
5	19.3667	0.7792	0.7658	0.7805

Panel A: Residual serial correlation LM tests
Lag	LRE*stat	p-value	Rao F-stat	p-value
1	60.8091	0.0001	2.7026	0.0001
2	21.4739	0.6660	0.8541	0.6676
3	26.3727	0.3879	1.0634	0.3900
4	20.5839	0.7156	0.8167	0.7171
5	19.3667	0.7792	0.7658	0.7805

Panel B: Residual normality tests
Variable	Jarque-Bera	p-value
1	0.6684	0.7159
2	6.3495	0.0418
3	0.0552	0.9728
4	1.1880	0.5521
5	4.5210	0.1043
Joint	12.7821	0.2361

Panel C: Residual heteroskedasticity test (levels and squares)
Chi-sq	p-value
704.9490	0.1096

Source(s): Authors' computation