Dependent Variable | |||
| Fixed Effect | 2-Stage Least Squares | Lagged-Effect |
Adjusted R2 | 67.2% | 31.2% | 45.9% |
Standard Error | 0.132 | 0.192 | 0.190 |
Durbin-Watson | 2.06 | 1.182 | 1.201 |
F-Value | 9.688*** | 14.308*** | 22.615*** |
No. of Observations | 2000 | 2000 | 2000 |
Constant | −4.383*** | −0.178 | 2.574** |
Independent Variable | |||
IO | 0.775 | 0.311 | 1.342 |
Control Variables |
|
|
|
Sales Growth | 0.838 | −0.759 | −0.092 |
Firm Size | −1.23 | 1.313 | 2.895*** |
Leverage | 1.458 | −0.208 | 1.116 |
Corruption Index | −0.617 | 1.996** | 5.231*** |
Inflation | −2.694*** | −0.341 | −1.688* |
GDP Per Capita | −0.526* | −0.624 | −1.714* |