Variables | Aprori Sign | Pooled Ordinary Least Square | Random Effect Model | Fixed Effect Model | Panel Corrected Standard Error | ||||
C |
| −0.2148 {1.105} (−1.63) | −0.2153 {0.189} (−1.31) | −0.6928 {0.000} (−3.94) | −0.2148 {0.001} (−3.25) | ||||
BZ | + | 0.0184 {0.029} (2.20) | 0.0030 {0.704} 0.38 | 0.0051 {0.514} (0.65) | 0.0184 {0.016} (2.4) | ||||
BI | + | 0.0014 {0.322} (0.99) | −0.0009 {0.517} (−0.65) | −0.0035 {0.017} (−2.41) | 0.0184 {0.190} (1.31) | ||||
GD | + | 0.0039 {0.004} (2.88) | 0.0011 {0.482} (0.70) | −0.0006 {0.679} (−0.41) | 0.0039 {0.00} (5.55) | ||||
MO | + | 0.0038 {0.010} (2.60) | −0.0008 [0.772} (−0.29) | 0.0018 {0.633} (−0.48) | 0.0038 {0.001} (3.42) | ||||
IO | + | 0.0012 {0.310} (1.02) | 0.0032 {0.004} (2.91) | 0.0029 {0.000} (2.62) | 0.0012 {0.227} (1.210 | ||||
FA | + | −0.0012 {0.114} (−1.59) | 0.0045 {0.018} (2.36) | 0.0240 {0.000} (6.61) | 0.0012 {0.001} (−3.37) | ||||
Model Parameter: |
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R square |
| 0.0738 |
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| 0.0738 | ||||
Adjusted R square |
| 0.0524 |
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F. Stat./Wald Stat Prb. |
| 3.45 0.0027 | 17.50 0.0076 | 10.10 0.000 | 66.10 0.000 | ||||
Breusch and Pagan Lagrangian multiplier test for random effects: Chi2 Prob. |
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347.43 0.000 | ||||
Hausman Test: Chi2 Prb. |
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0.000 | ||||
Multicollonearity Test: VIF VIF (mean) |
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1.17 | ||||
Heteroskedasticity Test: Breusch-Pagan/Cook-Weisberg Chi2 Prb. |
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14.76 0.0001 | ||||
Cross-Sectional Dependence: Pesaran’s Test F Stat. Prb. |
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5.627 0.000 | ||||
Autocorrelation: Wooldridge Test F Stat. Prb. |
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155.320 0.000 | ||||