Table 3 Predicted signs of variables...

Table 3

Predicted signs of variables

Variables	Predicted sign of influence	Remarks
$∆$ RPR_i,t	Positive(+)	Explanatory variable
$∆$ TPR_i,t	Negative(−)	Control variable
$∆$ CPI_t	Positive(+)	Exogenous control variable
$∆$ CCSI_t	Positive(+)	Exogenous control variable
$∆$ GDP_t	Positive(+)	Exogenous control variable
$∆$ BADLR_i,t	Negative(−)	Control variable
$∆$ OE_i,t	Positive(+)	Control variable
$∆$ PCS_i,t	Positive(+)	Control variable
$∆$ CCR_i,t	Negative(−)	Control variable

Variables	Predicted sign of influence	Remarks
$∆$ RPR_i,t	Positive(+)	Explanatory variable
$∆$ TPR_i,t	Negative(−)	Control variable
$∆$ CPI_t	Positive(+)	Exogenous control variable
$∆$ CCSI_t	Positive(+)	Exogenous control variable
$∆$ GDP_t	Positive(+)	Exogenous control variable
$∆$ BADLR_i,t	Negative(−)	Control variable
$∆$ OE_i,t	Positive(+)	Control variable
$∆$ PCS_i,t	Positive(+)	Control variable
$∆$ CCR_i,t	Negative(−)	Control variable

Note(s): This table shows the predicted signs of the relationships among each variable and card usage performance. When the dependent variables are replaced with market share, predictions about the signs of the relationships remain the same

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