Table 2 ROA models for all banks... | Emerald Publishing

Table 2

ROA models for all banks

	Subsidiaries			Parents
	Model 1.1.a	Model 1.2.a	Model 1.3.a	Model 1.1.b	Model 1.2.b	Model 1.3.b
	(Fixed)	(Random)	(GLS)	(Fixed)	(Random)	(GLS)
GDP	−0.00366	−0.0223	−0.00255	0.00686*	0.00743**	0.00399**
GDP	(−0.06)	(−0.35)	(−0.49)	(2.35)	(2.75)	(2.80)
INF	0.351**	0.514***	0.0521**	0.0563***	0.0409***	0.0434***
INF	(2.99)	(4.31)	(3.13)	(4.08)	(5.34)	(6.50)
CR5	−0.675***	−0.451***	−0.00847	−0.00580	−0.00397	−0.00203**
CR5	(−8.31)	(−6.06)	(−1.00)	(−1.25)	(−1.68)	(−2.64)
S_LOANS	−0.000262	0.0198***	0.0243***	0.00861	0.00629	0.00429**
S_LOANS	(−0.18)	(18.76)	(17.60)	(1.54)	(1.57)	(2.68)
D_L	−0.00552	0.0381***	0.00565**	0.00522***	0.00308**	0.00246***
D_L	(−0.50)	(3.47)	(2.93)	(3.51)	(2.70)	(5.32)
CAP	0.0710***	0.0689***	0.0512***	0.113***	0.121***	0.0963***
CAP	(18.35)	(19.41)	(8.54)	(8.67)	(11.01)	(13.16)
CRED_GROWTH	−0.0186	−0.00666	0.00197	0.00895***	0.00933***	0.00431***
CRED_GROWTH	(−1.31)	(−0.44)	(1.17)	(7.09)	(7.75)	(7.41)
CI	−0.0423***	−0.0194***	−0.0185***	−0.0220***	−0.0238***	−0.0188***
CI	(−33.30)	(−20.15)	(−16.31)	(−8.37)	(−10.70)	(−17.90)
LIQ_A	−0.0000391	0.0102***	0.0130***	0.00274	0.00465*	0.000864
LIQ_A	(−0.04)	(11.71)	(9.31)	(1.13)	(2.26)	(1.07)
COR	−1.465***	−1.378***	−0.741***	−0.445***	−0.422***	−0.486***
COR	(−4.21)	(−3.69)	(−20.68)	(−16.51)	(−17.18)	(−18.45)
SIZE	−0.0622***	0.00164	0.00189*	−0.000615	0.000203	0.000100
SIZE	(−6.29)	(0.21)	(2.24)	(−0.93)	(0.69)	(1.00)
_cons	1.401***	0.270***	−0.0149	0.0124	0.00521	0.00732***
_cons	(14.72)	(3.50)	(−1.94)	(1.34)	(0.85)	(3.99)
N	2878	2878	2837	804	804	791

	Subsidiaries			Parents
	Model 1.1.a	Model 1.2.a	Model 1.3.a	Model 1.1.b	Model 1.2.b	Model 1.3.b
	(Fixed)	(Random)	(GLS)	(Fixed)	(Random)	(GLS)
GDP	−0.00366	−0.0223	−0.00255	0.00686*	0.00743**	0.00399**
GDP	(−0.06)	(−0.35)	(−0.49)	(2.35)	(2.75)	(2.80)
INF	0.351**	0.514***	0.0521**	0.0563***	0.0409***	0.0434***
INF	(2.99)	(4.31)	(3.13)	(4.08)	(5.34)	(6.50)
CR5	−0.675***	−0.451***	−0.00847	−0.00580	−0.00397	−0.00203**
CR5	(−8.31)	(−6.06)	(−1.00)	(−1.25)	(−1.68)	(−2.64)
S_LOANS	−0.000262	0.0198***	0.0243***	0.00861	0.00629	0.00429**
S_LOANS	(−0.18)	(18.76)	(17.60)	(1.54)	(1.57)	(2.68)
D_L	−0.00552	0.0381***	0.00565**	0.00522***	0.00308**	0.00246***
D_L	(−0.50)	(3.47)	(2.93)	(3.51)	(2.70)	(5.32)
CAP	0.0710***	0.0689***	0.0512***	0.113***	0.121***	0.0963***
CAP	(18.35)	(19.41)	(8.54)	(8.67)	(11.01)	(13.16)
CRED_GROWTH	−0.0186	−0.00666	0.00197	0.00895***	0.00933***	0.00431***
CRED_GROWTH	(−1.31)	(−0.44)	(1.17)	(7.09)	(7.75)	(7.41)
CI	−0.0423***	−0.0194***	−0.0185***	−0.0220***	−0.0238***	−0.0188***
CI	(−33.30)	(−20.15)	(−16.31)	(−8.37)	(−10.70)	(−17.90)
LIQ_A	−0.0000391	0.0102***	0.0130***	0.00274	0.00465*	0.000864
LIQ_A	(−0.04)	(11.71)	(9.31)	(1.13)	(2.26)	(1.07)
COR	−1.465***	−1.378***	−0.741***	−0.445***	−0.422***	−0.486***
COR	(−4.21)	(−3.69)	(−20.68)	(−16.51)	(−17.18)	(−18.45)
SIZE	−0.0622***	0.00164	0.00189*	−0.000615	0.000203	0.000100
SIZE	(−6.29)	(0.21)	(2.24)	(−0.93)	(0.69)	(1.00)
_cons	1.401***	0.270***	−0.0149	0.0124	0.00521	0.00732***
_cons	(14.72)	(3.50)	(−1.94)	(1.34)	(0.85)	(3.99)
N	2878	2878	2837	804	804	791

Note(s): t statistics in parentheses

^*p < 0.05, ^**p < 0.01, ^***p < 0.001