| Dependent variable | LLPTL | LIQTA | z-score |
| Independent variable | (1) | (2) | (3) |
| MD | −0.104* | −0.011 | −0.085 |
|
| (−2.018) | (−0.488) | (−1.131) |
| MD2 | 0.000 | 0.000 | 0.000 |
|
| (−1.153) | (1.065) | (0.108) |
| Tier1 | −0.242 | 0.257*** | −0.571* |
|
| (−0.716) | (3.037) | (−1.930) |
| RDI | −0.115 | 0.024 | 0.074 |
|
| (−0.242) | (0.439) | (0.190) |
| OBS | 0.017* | 0.002 | 0.004 |
|
| (1.846) | (1.241) | (0.742) |
| lnTa | 0.283 | −0.019 | −0.439*** |
|
| (0.659) | (−0.666) | (−2.784) |
| D09-D17 | Included | Included | included |
| Model Fits |
|
|
|
| F-test | 8.534*** | 6.917*** | 2.898*** |
| R2 | 0.113 | 0.202 | 0.049 |
| N | 181 | 208 | 208 |