OLS

FE

Differential GMM

Systematic GMM

L . N P L i , t

0.8344***

0.5952***

0.9627***

0.7753***

(11.89)

(6.11)

(5.28)

(7.35)

L E R i , t

0.1412***

0.1744***

0.4095**

0.1997***

(2.96)

(2.65)

(1.89)

(2.02)

C A R i , t

−0.0946***

−0.0801***

−0.0560*

−0.0808***

(−5.40)

(−2.97)

(−1.63)

(−2.35)

A S S E T i , t

0.0056

0.1374*

0.4163**

0.0103

(0.44)

(1.32)

(1.85)

(0.57)

M S i , t

−0.0033

−0.0522*

−0.2026***

−0.0272***