Table VIII OLS Regression estimates for...

Table VIII

OLS Regression estimates for all the period considered (2005–2012)

Variable	Model 1	Model 2	Model 3	Model 4
logZscore (t−1)	0.9027***	0.9017***	0.9166***	0.9030***
IslBank	−0.0856***	−0.0901***	−0.1091***	−0.0860***
CGFL_	−0.0246*	–	–	−0.0248*
WGI_	−0.0784***	−0.0857***	–	−0.0793***
DIClim_	0.0012	0.0011	0.0031	0.0011
ProRigIndex_	–	–	−0.0024***	–
BanImpFamSt	–	0.0058	−0.0089	–
BanImpGovSt	–	−0.0188	−0.0344	–
BanImpInsInvSt	–	−0.0197	−0.0006	–
Largeblock	–	–	–	−0.0166
Logtotass	0.0116*	0.0133*	0.0092	0.0111*
EquAss_	0.1616**	0.1754**	0.0964	0.1558**
NetLoamTotA_	0.0007	0.0006	0.0001	0.0007
GrowGroLoa~_	−0.0021***	−0.0020***	−0.0015***	−0.0021***
GDPgro_	0.0007	0.0007	−0.0011	0.0006
CosToInc_	−0.0006**	−0.0006**	−0.0005**	−0.0006**
_cons	0.3540**	0.2224	0.3442**	0.3646**
n	802	802	644	802

Variable	Model 1	Model 2	Model 3	Model 4
logZscore (t−1)	0.9027***	0.9017***	0.9166***	0.9030***
IslBank	−0.0856***	−0.0901***	−0.1091***	−0.0860***
CGFL_	−0.0246*	–	–	−0.0248*
WGI_	−0.0784***	−0.0857***	–	−0.0793***
DIClim_	0.0012	0.0011	0.0031	0.0011
ProRigIndex_	–	–	−0.0024***	–
BanImpFamSt	–	0.0058	−0.0089	–
BanImpGovSt	–	−0.0188	−0.0344	–
BanImpInsInvSt	–	−0.0197	−0.0006	–
Largeblock	–	–	–	−0.0166
Logtotass	0.0116*	0.0133*	0.0092	0.0111*
EquAss_	0.1616**	0.1754**	0.0964	0.1558**
NetLoamTotA_	0.0007	0.0006	0.0001	0.0007
GrowGroLoa~_	−0.0021***	−0.0020***	−0.0015***	−0.0021***
GDPgro_	0.0007	0.0007	−0.0011	0.0006
CosToInc_	−0.0006**	−0.0006**	−0.0005**	−0.0006**
_cons	0.3540**	0.2224	0.3442**	0.3646**
n	802	802	644	802

Notes: This table reports OLS panel data estimates where the dependent variable is the log of Z-score [logZ]. Year dummies are included. The models avoid the combination of related variables. Thus, in model 2, CGFL is excluded and the property dummies are considered instead. In Model 3, WGI is deleted and the Property Right Index (PorRigInde) is incorporated instead. Finally, Model 4 includes the large block variable instead of property dummies. *,**,***Significant at 1, 5 and 10 per cent levels, respectively

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