Variable | LLC | ADF Test | Test Form (c,t) | Results |
ROE | −5.84217 (0.0000) | 26.0732 (0.0530) | (c, 0) | Stationary |
PCS | −190.145 (0.0000) | 42.4526 (0.0003) | (c, 0) | Stationary |
LNFEE | −545.588 (0.0000) | 64.9645 (0.0000) | (c, 0) | Stationary |
LNLFEE | −6.83299 (0.0000) | 34.9503 (0.0015) | (c, 0) | Stationary |