Variables

Test ADF (trend + constant)

Test PP (trend + constant)

Test KPSS (trend + constant)

Level

First Difference

Level

Level

PCR

−3.597*

−3.597*

0.739*

Investment

−3.597*

−3.601*

0.739*

Opex

−4.205*

−4.192*

0.739*

Salary

−2.607***

−2.621*

0.739*