Correlated Random Effects—Hausman Test Equation: United Test period random effects | ||||
Test Summary | Chi-Sq. Statistics | Chi-Sq. d.f. | Prob. | |
Period Random | 0.000000 | 8 | 1.0000 | |
*Period test variance is invalid. Hausman statistic set to zero. Period random effects test comparisons: | ||||
Variable | Fixed | Random | Var(Diff.) | Prob. |
AQ_CG | 0.094895 | 0.095295 | 0.000006 | 0.8704 |
BS_CG | 0.013504 | 0.013282 | 0.000000 | 0.7401 |
CDLTY_CG | 0.060861 | 0.061076 | 0.000002 | 0.8821 |
IND_CG | 0.002675 | 0.002768 | 0.000000 | 0.4476 |
INSH_CG | 0.030617 | 0.030770 | 0.000004 | 0.9385 |
LEVRG | 0.010921 | 0.010062 | 0.000011 | 0.7956 |
LISH_CG | 0.004562 | 0.004425 | 0.000000 | 0.6864 |
TMSH_CG | 0.000394 | 0.000626 | 0.000000 | 0.6888 |
Period random effects test equation: Dependent Variable: TOBINQ_MP Method: Panel Least Squares Sample 2009-2018 Periods included: 10 Cross-sections included: 7 Total panel (unbalanced) observations: 68 | ||||
Variable | Coefficient | Std. Error | t-statistics | Prob. |
C | −0.654377 | 0.551844 | −1.185803 | 0.2414 |
AQ_CG | 0.094895 | 0.028934 | 3.279710 | 0.0019 |
BS_CG | 0.013504 | 0.005848 | 2.308958 | 0.0252 |
CDLTY_CG | 0.060861 | 0.027985 | 2.174791 | 0.0345 |
IND_CG | 0.002675 | 0.001051 | 2.545520 | 0.0141 |
INSH_CG | 0.030617 | 0.009461 | 3.236177 | 0.0022 |
LEVRG | 0.010921 | 0.005630 | 1.939872 | 0.0582 |
LISH_CG | 0.004562 | 0.001484 | 3.075204 | 0.0034 |
TMSH_CG | 0.000394 | 0.001359 | 0.289559 | 0.7734 |
Effects specification | ||||
Period fixed (dummy variables) | ||||
R-squared | 0.539090 | Mean dependent var | 1.052560 | |
Adjusted R-squared | 0.379182 | S.D. dependent var | 0.082997 | |
S.E. of regression | 0.065395 | Akaike info criterion | −2.392309 | |
Sum squared resid | 0.209547 | Schwarz criterion | −1.800003 | |
Log likelihood | 98.14235 | Hannan-Quinn criter | −2.157932 | |
F-statistic | 3.371259 | Durbin-Watson stat | 1.560730 | |
Prob (F-statistic) | 0.000394 |
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