Panel statistics | Value | Z-value | P-value | Robust P-value |
| −3.319 | −0.930 | 0.176 | 0.007 |
| −6.436 | 8.908 | 1.000 | 0.540 |
| −13.400 | 3.843 | 1.000 | 0.117 |
| −6.465 | 6.829 | 1.000 | 0.200 |