Model Variables | Variable in levels | Variable in first difference | Order of integration | ||
W-t bar Statistic | p-value | W-t-bar Statistic | p-value | ||
return on assets | −1.0368 | 0.1499 | −6.6057 *** | 0.0000 | I (1) |
lending interest rate | −2.2813** | 0.0113 | - | - | I (0) |
treasury bill rate | −7.5633*** | 0.0000 | - | - | I (0) |
core inflation | −11.1917*** | 0.0000 | - | - | I (0) |
logarithm of money supply | −1.0459 | 0.1478 | −5.3316*** | 0.0000 | I (1) |
logarithm of total assets | 0.4135 | 0.1225 | −0.012*** | 0.0000 | I (1) |
capital ratio | −1.689** | 0.035 |
|
| I (0) |