Parameter

Tvalue

Pvalue

RISK(j, t−1)

0.6926***

11.13

<0.001

ROA(j, t−1)

−2.2442***

-2.73

0.008

SIZE(j, t−1)

5.6436*

1.82

0.071

CAP(j, t−1)

9.2603***

7.52

<0.001

M2(j, t)

−1.6900***

−9.90

<0.001

GDP(j, t)

6.4179***

5.35

<0.001

AR(1)

0.001

AR(2)

0.668

Sargan

1.000