Variable model | LC | CDB | LIQ | |||
Equation (1) | Equation (2) | Equation (3) | Equation (4) | Equation (5) | Equation (6) | |
C | −22.82635*** (−4.85) | −14.38182*** (−4.96) | −25.21523*** (−4.37) | −16.06409*** (−6.26) | −24.47524*** (−3.51) | −22.22454*** (−7.38) |
INSYS(−1) | −0.2107288*** (−7.12) | −0.1959917*** (−7.51) | −0.2158194*** (6.39) | −0.1810966*** (−12.04) | −0.1857409*** (−6.84) | −0.2453089*** (−7.950) |
INSYS(−2) | −0.0404402* (−1.71) | −0.0593252* (−2.54) | −0.0186192 (−0,78) | 0.0019125 (0.14) | −0.0209786 (−0.98) | 0.0165927 (0.65) |
INSYS(−3) |
|
|
|
|
| 0.3153063*** (9.71) |
LC(−1) | −0.054899*** (−7.15) | −0.022911*** (−4.51) |
|
|
|
|
CDB(−1) |
|
| −0.0303962* (−3.17) | −0.000742 (−0.15) |
|
|
LIQ |
|
|
|
| −0.0525105* (−2.20) | −0.0080967** (−2.13) |
Liquidity*Z−score(−1) | 1.031055** (2.81) |
| 1.034508*** (3.69) |
| 1.169419*** (1.8) |
|
Liquidity*RWATAR(−1) |
| 0.0000336*** (3.61) |
| 0.0000342** (3.07) |
| 0.0000487** (2.66) |
lnSIZE (−1) | 1.273345* (5.09) | 0.7998074*** (4.69) | 1.296199*** (3.96) | 0.7969351*** (5.34) | 1.299748*** (3.31) | 1.19192*** (7.16) |
CAPI (−1) | 0.0379209 (0.90) | −0.0179791 (−0.71) | 0.0688444* (2.01) | 0.017232 (0.404) | 0.0814129 (1.82) | 0.0109586 (0.41) |
ROA (−1) | 0.1066729 (−8.09) | −0.430281*** (−9.41) | 0.1940112 (1.27) | −0.3954545*** (−7.01) | −0.0159874 (−0.08) | −0.6617875*** (−10.90) |
INTER (−1) | −0.0652328*** (−8.09) | −0.0435423*** (−5.81) | −0.0692838*** (−6.87) | −0.0476144*** (−6.55) | −0.0620968*** (−6.9) | −0.0490743*** (−7.22) |
GROW | 0.1166747** (3.17) | 0.1206452*** (5.25) | 0.1114397** (2.74) | 0.1526044*** (5.06) | 0.1591311*** (4.02) | 04091157*** (9.62) |