Table 7 Endogeneity test using Gaussian... | Emerald Publishing

Table 7

Endogeneity test using Gaussian copula

Gaussian copula terms	ROA		MAC
Gaussian copula terms	t-stats	p-value	t-stats	p-value
AC composition	0.388	0.699	0.415	0.678
Leverage	7.719	0.000***	0.704	0.482
Asset turnover	4.339	0.000***	1.900	0.130
Firm size	3.664	0.000***	2.143	0.033**

Note(s): ***p < 0.01, **p < 0.05, *p < 0.1

Source(s): Authors' computation