Interaction of LLP with competition and concentration variables (two-step system GMM)
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| LLP | LLP | LLP | LLP | |
| Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | |
| LLPt-1 | −0.128 (−1.40) | −0.101 (−1.00) | −0.157 (−1.28) | −0.147* (−1.88) |
| EBPT | −0.004 (−0.08) | 0.017 (0.71) | 0.084 (0.38) | 0.024 (0.26) |
| NPL | 0.010 (−1.12) | 0.009 (1.10) | 0.010 (1.17) | 0.011 (0.21) |
| CP | 0.015 (−0.98) | 0.013 (0.73) | 0.014 (0.75) | 0.006 (0.29) |
| SIZE | 0.241 (0.86) | 0.224 (0.79) | 0.226 (0.78) | 0.304 (0.83) |
| GDPG | 0.116* (1.88) | 0.063 (1.24) | 0.084 (1.25) | 0.117 (1.09) |
| LN | 2.320 (1.57) | |||
| LN*EBTP | 0.126 (0.56) | |||
| BN | −0.011 (−0.03) | |||
| BN*EBTP | −0.078 (−1.38) | |||
| CN | −0.005 (−0.24) | |||
| CN*EBTP | −0.001 (−0.28) | |||
| HS | −0.025 (−0.02) | |||
| HS*EBTP | −0.007 (−0.06) | |||
| Constant | −1.477 (−0.52) | −0.709 (−0.26) | −0.354 (−0.13) | −1.319 (−0.39) |
| Observations | 948 | 987 | 969 | 714 |
| AR (1)p | 0.032 | 0.033 | 0.032 | 0.042 |
| AR (2)p | 0.524 | 0.680 | 0.627 | 0.635 |
| Hansen(p) | 0.016 | 0.005 | 0.008 | 0.0152 |
| Sargan(p) | 0.000 | 0.000 | 0.000 | 0.000 |
| (1) | (2) | (3) | (4) | |
|---|---|---|---|---|
| LLP | LLP | LLP | LLP | |
| Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | Coefficient (t-statistic) | |
| LLPt-1 | −0.128 (−1.40) | −0.101 (−1.00) | −0.157 (−1.28) | −0.147* (−1.88) |
| EBPT | −0.004 (−0.08) | 0.017 (0.71) | 0.084 (0.38) | 0.024 (0.26) |
| NPL | 0.010 (−1.12) | 0.009 (1.10) | 0.010 (1.17) | 0.011 (0.21) |
| CP | 0.015 (−0.98) | 0.013 (0.73) | 0.014 (0.75) | 0.006 (0.29) |
| SIZE | 0.241 (0.86) | 0.224 (0.79) | 0.226 (0.78) | 0.304 (0.83) |
| GDPG | 0.116* (1.88) | 0.063 (1.24) | 0.084 (1.25) | 0.117 (1.09) |
| LN | 2.320 (1.57) | |||
| LN*EBTP | 0.126 (0.56) | |||
| BN | −0.011 (−0.03) | |||
| BN*EBTP | −0.078 (−1.38) | |||
| CN | −0.005 (−0.24) | |||
| CN*EBTP | −0.001 (−0.28) | |||
| HS | −0.025 (−0.02) | |||
| HS*EBTP | −0.007 (−0.06) | |||
| Constant | −1.477 (−0.52) | −0.709 (−0.26) | −0.354 (−0.13) | −1.319 (−0.39) |
| Observations | 948 | 987 | 969 | 714 |
| AR (1)p | 0.032 | 0.033 | 0.032 | 0.042 |
| AR (2)p | 0.524 | 0.680 | 0.627 | 0.635 |
| Hansen(p) | 0.016 | 0.005 | 0.008 | 0.0152 |
| Sargan(p) | 0.000 | 0.000 | 0.000 | 0.000 |
Source(s): Authors’ computation
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