Granger causality for percentage in a change of new firm establishment
| Null hypothesis | χ2 | Results |
|---|---|---|
| PERNUM does not indicate Granger Causality with ENT | 2.3605 | Fail to reject |
| PERNUM does not indicate Granger Causality with NB | 1.096 | Fail to reject |
| PERNUM does not indicate Granger Causality with D.ENTVN | 8.2081** | Reject |
| PERNUM does not indicate Granger Causality with SU | 5.9447 | Fail to reject |
| PERNUM does not indicate Granger Causality with all | 27.025*** | Reject |
| ENT does not indicate Granger Causality with PERNUM | 2.7838 | Fail to reject |
| ENT does not indicate Granger Causality with NB | 0.93254 | Fail to reject |
| ENT does not indicate Granger Causality with D.ENTVN | 2.7848 | Fail to reject |
| ENT does not indicate Granger Causality with SU | 9.8871** | Reject |
| ENT does not indicate Granger Causality with all | 18.214 | Fail to reject |
| NB does not indicate Granger Causality with PERNUM | 3.0498 | Fail to reject |
| NB does not indicate Granger Causality with ENT | 0.46674 | Fail to reject |
| NB does not indicate Granger Causality with D.ENTVN | 8.271** | Reject |
| NB does not indicate Granger Causality with SU | 4.9168 | Fail to reject |
| NB does not indicate Granger Causality with all | 16.433 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with PERNUM | 2.3841 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with ENT | 3.6176 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with NB | 5.6319 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with SU | 5.2743 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with all | 16.589 | Fail to reject |
| SU does not indicate Granger Causality with PERNUM | 4.1606 | Fail to reject |
| SU does not indicate Granger Causality with ENT | 10.116** | Reject |
| SU does not indicate Granger Causality with NB | 6.0134 | Fail to reject |
| SU does not indicate Granger Causality with D.ENTVN | 8.8352 | Fail to reject |
| SU does not indicate Granger Causality with all | 27.515*** | Reject |
| Null hypothesis | Results | |
|---|---|---|
| PERNUM does not indicate Granger Causality with ENT | 2.3605 | Fail to reject |
| PERNUM does not indicate Granger Causality with NB | 1.096 | Fail to reject |
| PERNUM does not indicate Granger Causality with D.ENTVN | 8.2081** | |
| PERNUM does not indicate Granger Causality with SU | 5.9447 | Fail to reject |
| PERNUM does not indicate Granger Causality with all | 27.025*** | |
| ENT does not indicate Granger Causality with PERNUM | 2.7838 | Fail to reject |
| ENT does not indicate Granger Causality with NB | 0.93254 | Fail to reject |
| ENT does not indicate Granger Causality with D.ENTVN | 2.7848 | Fail to reject |
| ENT does not indicate Granger Causality with SU | 9.8871** | |
| ENT does not indicate Granger Causality with all | 18.214 | Fail to reject |
| NB does not indicate Granger Causality with PERNUM | 3.0498 | Fail to reject |
| NB does not indicate Granger Causality with ENT | 0.46674 | Fail to reject |
| NB does not indicate Granger Causality with D.ENTVN | 8.271** | |
| NB does not indicate Granger Causality with SU | 4.9168 | Fail to reject |
| NB does not indicate Granger Causality with all | 16.433 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with PERNUM | 2.3841 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with ENT | 3.6176 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with NB | 5.6319 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with SU | 5.2743 | Fail to reject |
| D.ENTVN does not indicate Granger Causality with all | 16.589 | Fail to reject |
| SU does not indicate Granger Causality with PERNUM | 4.1606 | Fail to reject |
| SU does not indicate Granger Causality with ENT | 10.116** | |
| SU does not indicate Granger Causality with NB | 6.0134 | Fail to reject |
| SU does not indicate Granger Causality with D.ENTVN | 8.8352 | Fail to reject |
| SU does not indicate Granger Causality with all | 27.515*** |
Note:
*, ** and *** significant at 10%, 5% and 1% levels, respectively
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