Bank-Specific Bad Times (Bank-Year Level)

Bank-Specific Bad Times (Bank-Year Level)

Macroeconomic Bad Times (Bank-Year Level)

Macroeconomic Bad Times (Bank-Year Level)

Variable

Dependent Var. = VAIC

Dependent Var. = VAIC

Dependent Var. = VAIC

Dependent Var. = VAIC

Intercept

2.244***

(156.99)

−1.249

(−1.42)

2.193***

(138.14)

−0.753

(−0.83)

UNCAP

−0.220***

(−10.39)

−0.363***

(−15.46)

FNMR

0.0002

(0.59)

0.0001

(0.33)

SIZE

0.278***

(17.53)

0.261***

(16.80)

GDPPC

0.147

(1.64)

0.121

(1.31)

UNEMPLOYMENT

−0.055***

(−7.77)

−0.053***

(−7.44)

POPULATION

−0.116***

(−12.47)

−0.118***

(−12.89)

YEAR FIXED EFFECTS

YES

YES

YES

YES

Adj. R²

0.0044

0.1083

0.00002

0.0971

# of Observations

106,272

106,272

106,272

106,272