Signal

Name of variable

Measure

Dependent variable

LERNER

Indicator for measuring banking competitiveness

$\frac{P-MC}{P}$

Independent variable

CAP

Equity Capital

$\frac{\text{BankingEquity}}{\text{Totalbankingassests}}$

SIZE

Banking size

ln(Total banking asset)_t

LLP

Credit loss provision ratio

$\frac{\text{baddebtprovisionexpense}}{\text{Totalbankingassest}}$

INF

Inflation rate

$\frac{{\text{CPI}}_t-{\text{CPI}}_{t-1}}{{\text{CPI}}_{t-1}}$

GDP

GDP growth

$\frac{{\text{GDP}}_t-{\text{GDP}}_{t-1}}{{\text{GDP}}_{t-1}}$