| Variables | Coefficient | Standard error |
| ROA | −2.2165*** | 0.5517 |
| RFA | 60.8024 | 23.9062 |
| RPA | 0.0701** | 0.0650 |
| RCD | 0.0999*** | 0.0330 |
| Wald chi2 = 48.45 R-squared = 0.77 Adj R-squared = 0.48 Note (***) and (**) denote the significance of the coefficient at the thresholds of 1% and 5%, respectively. | ||