| Dependent variable: ROA | (1) (SGMM) | (2) (SGMM) | (3) (SGMM) | (4) (SGMM) | (5) (SGMM) |
| ROEit−1S | 0.604*** | 0.601*** | 0.606*** | 0.601*** | 0.594*** |
|
| (0.057) | (0.057) | (0.059) | (0.057) | (0.059) |
| Cr | 3.809*** | 3.719*** | 3.762*** | 3.739*** | 3.710*** |
|
| (1.227) | (1.221) | (1.219) | (1.218) | (1.214) |
| Liquidity | −1.380 | −1.348 | −1.220 | −1.253 | −1.453 |
|
| (1.664) | (1.652) | (1.794) | (1.667) | (1.661) |
| Der | 0.154 | 0.146 | 0.163 | 0.150 | 0.169 |
|
| (0.354) | (0.357) | (0.357) | (0.357) | (0.356) |
| OP | 5.267 | 4.312 | 3.721 | 4.215 | 3.615 |
|
| (7.233) | (6.233) | (5.443) | (6.233) | (5.443) |
| Rcp | 0.002 |
|
|
|
|
|
| (0.007) |
|
|
|
|
| Icp |
| −0.099 |
|
|
|
|
|
| (0.175) |
|
|
|
| Pdp |
|
| −0.001 |
|
|
|
|
|
| (0.003) |
|
|
| Ccc |
|
|
| 0.001 |
|
|
|
|
|
| (0.001) |
|
| Constant | −0.656 | −0.312 | −0.449 | −0.451 | −0.632 |
|
| (1.697) | (1.756) | (1.933) | (1.722) | (1.674) |
| Sargan | 113.596*** | 113.357*** | 113.469*** | 113.722*** | 114.181*** |
| Observations | 187 | 187 | 187 | 187 | 187 |