Variable

Z-Score

(1)

(2)

(3)

(4)

Tier 1 Cap (−1)

4.688***

(0.819)

4.554***

(0.819)

Tier 1 Lev (−1)

13.44***

(1.190)

8.954***

(1.190)

LLPGL (−1)

−0.865***

(0.143)

−0.875***

(0.126)

−0.947***

(0.143)

−1.047***

(0.126)

COV (−1)

−0.160***

(0.0341)

−0.149***

(0.0318)

−0.184***

(0.0341)

−0.180***

(0.0318)

TEXASR (−1)

−12.05***

(1.499)

−11.96***

(1.553)

−10.75***

(1.499)

−9.758***

(1.553)

SIZE (−1)

−0.00523

(0.0241)

0.0399

(0.0255)

−0.0230

(0.0241)

0.00588

(0.0255)

LIQ (−1)

−0.666***

(0.216)

−0.643**

(0.254)

−0.746***

(0.216)

−0.728***

(0.254)

EFF (−1)

−0.538***

(0.0995)

−0.429***

(0.102)

−0.644***

(0.0995)

−0.607***

(0.102)

ΔGDP (−1)

−0.0258

(0.394)

−0.0597

(0.379)

−0.0161

(0.394)

−0.0319

(0.379)

EURIBOR (−1)

−7.260

(50.51)

−13.86

(50.27)

−3.590

(50.51)

−4.868

(50.27)

HHI (−1)

0.142

(0.309)

−0.00715

(0.347)

0.390

(0.309)

0.305

(0.347)

Time FE

Yes

Yes

Yes

Yes

Country FE

Yes

Yes

Yes

Yes

Bootstrap Standard Errors

Yes

Yes

Yes

Yes

Observations

2545

2555

2545

2555