| (9) | (10) | (11) | (12) |
| 0.8894*** (5.6861) | 0.5380*** (3.2822) | 0.4586*** (2.7195) | 0.1072 (1.3585) |
|
|
| −0.2952** (−2.1036) | −0.2952** (−2.1036) |
|
| −0.1109** (−2.3635) |
| −0.1109** (−2.3635) |
| −0.4308** (−2.1036) | −0.4308** (−2.1036) | − |
|
| −0.3514** (2.3635) |
| −0.3514** (−2.3635) |
|
| −0.0271 (−0.8324) | −0.0271 (−0.8324) | −0.0271 (−0.8324) | −0.0271 (−0.8324) |
| 0.2504*** (11.4969) | 0.2504*** (11.4970) | 0.2504*** (11.4970) | 0.2504*** (11.4970) |
N
| 432 0.9973 | 432 0.9973 | 432 0.9973 | 432 0.9973 |