BUF (−1)

0.354^***

(4.76)

0.353^***

(4.62)

CAP (−1)

0.398^*** (4.18)

0.406^***

(4.30)

LOAN (−1)

0.818^***

(12.69)

0.799^***

(12.64)

GDP

0.361^***

(2.89)

0.338^***

(2.86)

0.108^**

(1.98)

0.099^*

(1.89)

−0.532^**

(−2.30)

−0.455^**

(−2.22)

CR4

−0.138^**

(−2.03)

−0.081^**

(−2.25)

0.509^*

(1.95)

HHI

−0.438^*

(−1.77)

−0.254^**

(−2.10)

1.588^**

(2.10)

GLOAN

−0.039^**

(−2.69)

−0.039^***

(−2.76)

−0.028^***

(−3.16)

−0.031^***

(−3.62)

0.164^***

(3.28)

0.181^***

(3.81)

NPL

−0.326^*** (−5.87)

−0.329^***

(−5.63)

−0.089^**

(−2.47)

−0.09^**

(−2.53)

0.369^***

(2.83)

0.322^***

(2.86)

ROA

2.972^***

(2.75)

2.954^***

(2.83)

2.102^***

(3.27)

2.056^***

(3.20)

0.686

(0.31)

0.338

(0.16)

ROE

−0.142^**

(−2.34)

−.158^***

(−3.05)

−0.134^***

(−3.39)

−0.132^***

(−3.38)

0.102

(0.62)

0.05

(0.29)

SIZE

−0.0629

(−0.96)

−0.057

(−0.93)

−0.135^***

(−3.51)

−0.138^***

(−3.56)

0.489^*

(1.98)

0.532^**

(2.11)

CONS

7.807^*

(1.93)

6.919^*

(1.74)

9.851^***

(4.03)

9.186^***

(4.03)

−26.172^*

(−1.85)

−20.253^**

(−2.04)

AR (1)

0.002

0.001

0.000

0.000

0.000

0.000

AR (2)

0.131

0.129

0.074

0.075

0.889

0.830

SARGAN

0.286

0.356

0.237

0.190

0.112

0.088