Variable | Z-Score | |||
GMM | IV 2SLS | |||
(1) | (2) | (1) | (2) | |
Z-Score (−1) | 0.347*** (0.0250) | 0.328*** (0.0242) |
|
|
Tier 1 Cap (−1) | 3.356*** (1.211) |
| 6.932** (3.371) |
|
Tier 1 Lev (−1) |
| 5.377*** (2.060) |
| 21.32*** (6.163) |
LLPGL (−1) | 0.140 (0.101) | 0.0929 (0.1000) | −0.935*** (0.177) | −1.089*** (0.201) |
COV (−1) | −0.118*** (0.0414) | −0.116*** (0.0382) | −0.190*** (0.0706) | −0.174*** (0.0595) |
TEXASR (−1) | −8.572*** (2.113) | −8.299*** (2.062) | −10.56*** (3.494) | −7.666** (3.663) |
SIZE (−1) | −0.0186 (0.0422) | −0.000379 (0.0466) | −0.0264 (0.0555) | 0.0291 (0.0680) |
LIQ (−1) | −0.281 (0.268) | −0.284 (0.276) | −0.745* (0.424) | −0.567 (0.563) |
EFF (−1) | 0.0977 (0.0902) | 0.0900 (0.0895) | −0.644*** (0.121) | −0.525*** (0.117) |
ΔGDP (−1) | −0.319 (0.200) | −0.309 (0.198) | −0.0470 (0.271) | −0.0912 (0.266) |
EURIBOR (−1) | 0.0141 (0.0356) | −0.0144 (0.0331) | −16.33 (18.95) | −10.64 (15.24) |
HHI (−1) | −0.0104 (0.326) | −0.0810 (0.315) | 0.142 (0.569) | −0.00910 (0.571) |
Time FE | Yes | Yes | Yes | Yes |
Country FE | Yes | Yes | Yes | Yes |
Cluster S.E. | Yes | Yes | Yes | Yes |
Hansen | 1.00 | 1.00 |
|
|
AR2 | 0.432 | 0.324 |
|
|
Sargan’s p |
|
| 0.321 | 0.341 |
Observations | 2498 | 2508 | 2466 | 2477 |