Table 3 Panel regression, 2005–2017,... | Emerald Publishing

Table 3

Panel regression, 2005–2017, second model

Dependent variable: D_PRETAX_ROE
Method: Panel EGLS (cross-section weights)
Sample: 2005 2017
Periods included: 13
Cross-sections included: 13
Total panel (balanced) observations: 169
Linear estimation after one-step weighting matrix
White cross-section standard errors and covariance (d.f. corrected)

Variable	Coefficient	Std. Error	t-Statistic	Prob
C	−0.735	0.366	−2.012	0.0460
G_ACCRUALS_LAG	3.17E-06	1.09E-06	2.921	0.0040
D_LN_TOTAL_ASSETS	0.034	0.034	1.012	0.3133
CRISIS2	0.065	0.028	2.349	0.0201
D_DEBT_RATIO	1.896	0.3808	4.986	0.0000
D_DEBT_RATIO2	−2.006206	0.393	−5.110	0.0000
D_EA_ESI_LAG	0.0009	0.000	0.923	0.3586
D_GDP_PC_GROWTH	2.681	0.371	7.216	0.0000
D_ECB_MAIN_RATE	−2.093	0.892	−2.347	0.0202
	Effects specification

Variable	Coefficient	Std. Error	t-Statistic	Prob
C	−0.735	0.366	−2.012	0.0460
G_ACCRUALS_LAG	3.17E-06	1.09E-06	2.921	0.0040
D_LN_TOTAL_ASSETS	0.034	0.034	1.012	0.3133
CRISIS2	0.065	0.028	2.349	0.0201
D_DEBT_RATIO	1.896	0.3808	4.986	0.0000
D_DEBT_RATIO2	−2.006206	0.393	−5.110	0.0000
D_EA_ESI_LAG	0.0009	0.000	0.923	0.3586
D_GDP_PC_GROWTH	2.681	0.371	7.216	0.0000
D_ECB_MAIN_RATE	−2.093	0.892	−2.347	0.0202
	Effects specification

Cross-section fixed (dummy variables)
	Weighted statistics
R-squared	0.679737	Mean dependent var	0.385011
Adjusted R-squared	0.636458	S.D. dependent var	0.415724
S.E. of regression	0.184005	Sum squared resid	5.010960
F-statistic	15.70601	Durbin–Watson stat	1.345177
Prob (F-statistic)	0.000000

Cross-section fixed (dummy variables)
	Weighted statistics
R-squared	0.679737	Mean dependent var	0.385011
Adjusted R-squared	0.636458	S.D. dependent var	0.415724
S.E. of regression	0.184005	Sum squared resid	5.010960
F-statistic	15.70601	Durbin–Watson stat	1.345177
Prob (F-statistic)	0.000000