(a)

Variables

R

NDefault

LDefault

HDefault

Default

FinTech

−0.0028

0.3546***

−0.2484**

−0.0715***

−0.0347***

(0.069)

(0.117)

(0.098)

(0.023)

(0.010)

R

−0.5735*

0.5226*

0.0632

−0.0123

(0.314)

(0.262)

(0.060)

(0.028)

Constant

28.1958***

39.2168***

47.5031***

8.1059***

5.1742***

(5.812)

(13.208)

(11.025)

(2.546)

(1.165)

Bank FE

YES

YES

YES

YES

YES

Observations

35

35

35

35

35

R-squared

0.020

0.311

0.274

0.286

0.292

(b)

Variables

R

NDefault

LDefault

HDefault

Default

FinTech

0.1829**

0.3712**

−0.3105**

−0.0480*

−0.0130

(0.073)

(0.147)

(0.129)

(0.028)

(0.011)

R

−0.7221*

0.7217**

0.0523

−0.0409

(0.360)

(0.317)

(0.068)

(0.026)

Controls

YES

YES

YES

YES

YES

Constant

77.8954***

95.0857**

−1.7112

0.2425

2.9607

(16.672)

(41.105)

(36.159)

(6.757)

(2.644)

Bank FE

YES

YES

YES

YES

YES

Observations

35

35

35

35

35

R-squared

0.440

0.563

0.489

0.538

0.665