(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

(9)

Dep. Var. = NIM

OLS

FE

RE

GMM

Q(0.1)

Q(0.25)

Q(0.5)

Q(0.75)

Q(0.9)

LAGNIM

0.7019***

(8.5027)

FEMALE

−0.0029*

−0.0009

−0.0011

0.0124**

−0.1315

−0.0051**

3.4371***

1.6310**

6.1741***

(−1.8512)

(−0.5826)

(−0.8039)

(2.5016)

(−0.0176)

(−1.9770)

(50.4664)

(2.4327)

(33.6798)

LNBSIZE

0.0015**

0.0006

0.0007

−0.0016

5.6358

0.0034*

0.2751***

5.1528

−0.0029

(2.1063)

(0.8598)

(1.1273)

(−1.0388)

(0.5764)

(1.8040)

(3.7342)

(1.6439)

(−0.0273)

IND

0.0051***

0.0013

0.0014

−0.0146***

20.9562

0.0021

0.0230

−0.8673

−0.0025

(2.8934)

(0.9471)

(1.1029)

(−2.7965)

(1.1932)

(0.4295)

(0.1734)

(−0.6585)

(−0.0122)

LNBMEET

−0.0013***

−0.0009***

−0.0009***

−0.0054***

−8.2625*

−0.0005

−0.0006

0.2563

0.0451

(−3.0552)

(−2.6317)

(−2.9921)

(−2.8721)

(−1.7966)

(−0.4309)

(−0.0189)

(0.7782)

(0.8284)

DUAL

0.0006*

0.0002

0.0002

−0.0003

11.8697**

0.0012

0.0016

2.0933*

−0.0001

(1.7635)

(0.5892)

(0.6878)

(−0.2683)

(2.0709)

(1.2619)

(0.0617)

(1.7096)

(−0.0035)

LOANS

0.0126***

0.0253***

0.0227***

0.0161**

−8.2150

0.0082*

0.0139

−0.2204

0.0058

(6.4275)

(14.3725)

(14.6117)

(2.5467)

(−0.6247)

(1.8962)

(0.1082)

(−0.1923)

(0.0336)

LEV

−0.0001

−0.0109***

−0.0068*

0.0216

−20.5847

−0.0793***

−0.0627

−0.0381

−0.0589

(−0.0214)

(−2.7535)

(−1.9473)

(1.3797)

(−0.3523)

(−4.0615)

(−0.1207)

(−0.0070)

(−0.0614)

TQ

0.0103**

0.0085***

0.0104***

−0.0033

−5.1112

−0.0459***

−0.0330

−0.0039

−0.0171

(2.1882)

(3.2713)

(4.3116)

(−0.3338)

(−0.2312)

(−4.2447)

(−0.1641)

(−0.0015)

(−0.0613)

LNSIZE

−0.0008***

−0.0012**

−0.0008***

−0.0005

10.9955**

−0.0002

−0.0024

1.6286

−0.0002

(−5.4140)

(−2.4308)

(−3.2434)

(−1.6389)

(2.4918)

(−0.5062)

(−0.1815)

(1.6263)

(−0.0066)

LNAGE

−0.0007***

0.0014

0.0002

−0.0003

23.6644**

0.0004

0.0008

0.1632

−0.0019

(−2.6901)

(1.2681)

(0.3667)

(−0.6410)

(2.4032)

(0.6054)

(0.0351)

(0.8421)

(−0.0609)

CONSTANT

0.0316***

0.0307***

0.0241***

0.0389**

−368.3779**

0.0697***

−1.1717**

−48.3728*

−0.4805

(3.9375)

(2.6286)

(4.0483)

(2.4079)

(−2.3116)

(4.4022)

(−2.4687)

(−1.6461)

(−0.5710)

Observations

1581

1581

1581

1284

1581

1581

1581

1581

1581

R-squared

0.1752

0.4324

0.4299

Number of banks

299

299

297

Number of instruments

56

Year dummies

Yes

Hausman test (p-value)

0.0708

0.0708

AR(1) test (p-value)

0.000

AR(2) test (p-value)

0.940

Hansen test (p-value)

0.194