| Baseline Model (Bank-Year Level) | Baseline Model (Bank-Year Level) |
Variable | Dependent Var. = WD | Dependent Var. = WD |
Intercept | 0.198*** (81.64) | 0.676*** (7.70) |
VAIC | 0.002*** (2.61) | 0.006*** (8.05) |
TIER1 |
| −0.252*** (−7.18) |
ROA |
| −1.008*** (−9.54) |
LIQUIDITY |
| −0.118*** (−8.35) |
NPL |
| 0.270*** (6.74) |