Table 4 Summary of panel estimations FE... | Emerald Publishing

Table 4

Summary of panel estimations

	FE	RE	PMG
Parameters	$STKP = f (USTBR, US 10 YBY, S$P 500, EXR)$	$STKP = f (USTBR, US 10 YBY, S$P 500, EXR)$	$STKP = f (USTBR, US 10 YBY, S$P 500, EXR)$
US10YBY	$ϕ = - 803; t = 2.65; p < 0.05$	$ϕ = - 801.9; t = 2.65; p < 0.05$	$ϕ = - 0.02; t = 1.27; p > 0.05$
S$P500	$ϕ = 6.06; t = 8.58; p < 0.05$	$ϕ = 6.06; t = 2.65; p < 0.05$	$ϕ = 0.71; t = 10.58; p < 0.05$
USTBR	$ϕ = - 1329.6; t = 3.71; p < 0.05$	$ϕ = - 1330.7; t = 3.71; p < 0.05$	$ϕ = - 0.09; t = 4.71; p < 0.05$
EXR	$ϕ = - 46.8; t = 14.95; p < 0.05$	$ϕ = - 46.75; t = 14.92; p < 0.05$	$ϕ = - 0.01; t = 3.40; p < 0.05$
Diagnostic Tests
R²	98%	24%	NA
F-stat	3433.6(0.0000)	31.5(0.0000)	NA
ECM	NA	NA	$ϕ = - 0.234; t = 2.45; p < 0.05$
Haussmann test		Preferred (Chi-square 0.035885(4) p-value = 0.9998)	NA