Correlated Random Effects—Hausman Test

Equation: Untitled

Test period random effects

Test Summary

Chi-Sq. Statistic

Chi-Sq. d.f.

Prob.

Period random

8.595263

4

0.0721

WARNING: estimated period random effects variance is zero.

Period random effects test comparisons:

Variable

Fixed

Random

Var (Diff.)

Prob.

BS BMF AUCS

OWNCON

2.843283

−1.975466

−0.340341

0.146938

2.631495

−1.350712

−1.177608

0.160322

0.026531

0.086570

0.104379

0.000036

0.1935

0.0337

0.0096

0.0259

Period random effects test equation: Dependent Variable: ROE

Method: Panel Least Squares Sample: 2010 2020

Periods included: 11

Cross-sections included: 14

Total panel (unbalanced) observations: 154

Variable

Coefficient

Std. Error

t-Statistic

Prob.

C BS BMF AUCS

OWNCON

−13.90848

2.843283

−1.975466

−0.340341

0.146938

10.77895

1.206291

1.272136

1.407819

0.079308

−1.290337

2.357046

−1.552873

−0.241750

1.852739

0.1992

0.0199

0.1228

0.8093

0.0662

Effects Specification

Period fixed (dummy variables)

R-squared

Adjusted R-squared

S.E. of regression Sum squared resid

Log likelihood

F-statistic

Prob (F-statistic)

0.118848

0.025392

20.77321

56961.45

−646.6217

1.271705

0.233233

Mean dependent var

S.D. dependent var

Akaike info criterion

Schwarz criterion

Hannan-Quinn criter.

Durbin-Watson stat

7.623537

21.04208

9.001656

9.306802

9.125640

0.519173