Dependent variable

LLPTL

LIQTA

z-score

Independent variable

(1)

(2)

(3)

MD

−0.126**

−0.006

−0.083

(−2.385)

(−0.279)

(−1.172)

Tier1

−0.177

0.241***

−0.579**

(−0.510)

(2.808)

(−2.207)

OBS

0.018**

0.002

0.003

(2.044)

(1.065)

(0.744)

RDI

−0.010

0.007

0.066

(−0.022)

(0.140)

(0.183)

InTa

0.229

−0.015

−0.437***

(0.570)

(−0.618)

(−2.760)

D09

0.000

0.060

−0.547

omitted

(1.086)

(−1.466)

D10

0.483

0.140**

−0.884*

(1.208)

(2.527)

(−1.696)

D11

−0.018

0.020

−0.538

(−0.043)

(0.440)

(−1.275)

D12

0.390

−0.060

−0.249

(0.879)

(−0.980)

(−0.651)

D13

0.321

−0.109

−0.153

(0.815)

(−1.426)

(−0.397)

D14

0.151

−0.041

−0.599*

(0.360)

(−0.729)

(−1.770)

D15

0.535

−0.083*

−0.510

(1.016)

(−1.722)

(−1.641)

D16

0.270

−0.080**

−0.106

(0.508)

(−2.151)

(−0.383)

D17

0.796

-

-

(1.457)

omitted

omitted

Model Fits

F-test

8.158***

6.841***

3.087***

R2_within

0.176

0.250

0.005

R2_adjusted

0.112

0.200

0.054

N

181

208

208