Table X Scale efficiency determinants...

Table X

Scale efficiency determinants based on fixed effects

Variable	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6	Model 7
LN(GD	0.15 (−2.37)**	0.15 (−2.37)**	−0.15 (−2.25)**	−0.14 (−2.22)**	−0.12 (−2.12)**	0.15 (−2.37)**	−0.14 (−2.22)**
LN(INF)	0.02 (0.86)	0.02 (1.04)	0.02 (0.83)	0.02 (0.83)	−0.02 (1.23)	−0.02 (0.92)	0.02 (0.85)
LN(C3)	−0.10 (−0.46)	−0.15 (−0.72)	−0.18 (−0.85)	−0.18 (−0.84)	−0.09 (−0.42)	−0.10 (−0.47)	−0.17 (−0.81)
Ln(SIZE)	0.05 (0.79)	0.01 (0.15)	0.01 (−0.23)	−0.02 (−0.30)	−0.01 (−0.08)	0.02 (0.30)	−0.01 (−0.17)
Ln(CAP)	0.03 (0.80)	0.01 (0.13)	0.03 (0.95)	0.03 (0.94)	0.01 (0.04)	−0.03 (0.62)	−0.047 (0.35)
Ln(ROA)	0.02 (1.28)	0.02 (1.72)***	0.04 (1.87)***	0.03 (2.02)**	0.02 (1.62)	0.02 (1.50)	0.03 (1.03)
Ln(LLP/TL)	−0.02 (−1.47)	−0.02 (1.84)***	−0.02 (−1.68)***	−0.02 (−1.80)***	−0.02 (−1.93)**	−0.02 (−1.78)***	0.02 (1.64)***
Ln(NII/TA)	0.10 (5.14)*	0.10 (4.91)*	0.09 (4.57)*	0.09 (4.59)*	0.16 (6.35)*	0.11 (5.33)*	0.09 (4.63)*
Ln(TL/TA)	0.12 (4.17)*	0.12 (3.92)**	0.11 (3.77)*	0.11 (3.83)*	0.08 (2.01)**	0.15 (4.72)*	0.11 (3.73)*
Ln(LIQ)	0.17 (3.91)*	0.15 (3.461)*	0.16 (3.69)*	0.16 (3.69) *	0.12 (4.07)*	0.19 (4.62)*	0.37 (5.56)*
IB × LnSIZE	−0.16 (−2.56)*
IB × LnCAP		0.15 (1.84)***
IB × LnROA			−0.02 (−0.62)
IB × LnLLp/TL				0.02 (0.74)
IB × LnNII					−0.17 (−4.39)*
IB × LnTL						−0.13 (3.03)*
IB × Ln(LIQ)							−0.02 (−0.21)
Overall R²	0.01	0.09	0.13	0.13	0.09	0.01	0.13
Within R²	0.15	0.14	0.13	0.13	0.17	0.15	0.13
Between R²	0.01	0.23	0.27	0.29	0.17	0.01	0.28

Variable	Model 1	Model 2	Model 3	Model 4	Model 5	Model 6	Model 7
LN(GD	0.15 (−2.37)**	0.15 (−2.37)**	−0.15 (−2.25)**	−0.14 (−2.22)**	−0.12 (−2.12)**	0.15 (−2.37)**	−0.14 (−2.22)**
LN(INF)	0.02 (0.86)	0.02 (1.04)	0.02 (0.83)	0.02 (0.83)	−0.02 (1.23)	−0.02 (0.92)	0.02 (0.85)
LN(C3)	−0.10 (−0.46)	−0.15 (−0.72)	−0.18 (−0.85)	−0.18 (−0.84)	−0.09 (−0.42)	−0.10 (−0.47)	−0.17 (−0.81)
Ln(SIZE)	0.05 (0.79)	0.01 (0.15)	0.01 (−0.23)	−0.02 (−0.30)	−0.01 (−0.08)	0.02 (0.30)	−0.01 (−0.17)
Ln(CAP)	0.03 (0.80)	0.01 (0.13)	0.03 (0.95)	0.03 (0.94)	0.01 (0.04)	−0.03 (0.62)	−0.047 (0.35)
Ln(ROA)	0.02 (1.28)	0.02 (1.72)***	0.04 (1.87)***	0.03 (2.02)**	0.02 (1.62)	0.02 (1.50)	0.03 (1.03)
Ln(LLP/TL)	−0.02 (−1.47)	−0.02 (1.84)***	−0.02 (−1.68)***	−0.02 (−1.80)***	−0.02 (−1.93)**	−0.02 (−1.78)***	0.02 (1.64)***
Ln(NII/TA)	0.10 (5.14)*	0.10 (4.91)*	0.09 (4.57)*	0.09 (4.59)*	0.16 (6.35)*	0.11 (5.33)*	0.09 (4.63)*
Ln(TL/TA)	0.12 (4.17)*	0.12 (3.92)**	0.11 (3.77)*	0.11 (3.83)*	0.08 (2.01)**	0.15 (4.72)*	0.11 (3.73)*
Ln(LIQ)	0.17 (3.91)*	0.15 (3.461)*	0.16 (3.69)*	0.16 (3.69) *	0.12 (4.07)*	0.19 (4.62)*	0.37 (5.56)*
IB × LnSIZE	−0.16 (−2.56)*
IB × LnCAP		0.15 (1.84)***
IB × LnROA			−0.02 (−0.62)
IB × LnLLp/TL				0.02 (0.74)
IB × LnNII					−0.17 (−4.39)*
IB × LnTL						−0.13 (3.03)*
IB × Ln(LIQ)							−0.02 (−0.21)
Overall R²	0.01	0.09	0.13	0.13	0.09	0.01	0.13
Within R²	0.15	0.14	0.13	0.13	0.17	0.15	0.13
Between R²	0.01	0.23	0.27	0.29	0.17	0.01	0.28

Notes: The number in parentheses are the standard errors. GDP is the macroeconomic measure of the soundness of economy; INF measures the price index; C3 refers to the concentration index; size is measured by total assets; CAP is the total equity to total assets; ROA measures the profitability; LLP/TL represents the credit risk; NII/TA measures the non-interest/ finance income; TL measures the intensity of loans/ finance provided to customers; LN(LIQ) refers to liquidity risks. *,**,***Significant at 1, 5 and 10 per cent level, respectively

[ViewLarge]

Sharing Unavailable