| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) |
D. V. = ROE | OLS | FE | RE | GMM | Q(0.1) | Q(0.25) | Q(0.5) | Q(0.75) | Q(0.9) |
LAGROE |
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| 0.5201*** |
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|
| (6.6863) |
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| |
FEMALE | 0.0408*** | −0.0226 | 0.0004 | 0.0956* | 0.3125 | 0.0408*** | 0.0716*** | −0.1127 | 0.7747*** |
(3.2069) | (−1.2881) | (0.0288) | (1.9443) | (0.3073) | (6.0173) | (10.3331) | (−0.2010) | (6.4213) | |
LNBSIZE | −0.0199*** | −0.0307*** | −0.0294*** | 0.0269 | 1.7388 | −0.0039 | −0.0168*** | 6.4352 | −0.0754 |
(−3.4736) | (−3.9351) | (−4.6567) | (0.9637) | (0.6403) | (−0.6588) | (−3.0804) | (1.5723) | (−0.8951) | |
IND | 0.0024 | 0.0355** | 0.0254* | −0.0043 | 0.2787 | 0.0027 | −0.0077 | 0.5528 | −0.2140 |
(0.1631) | (2.2206) | (1.8344) | (−0.0561) | (0.0998) | (0.1881) | (−0.5320) | (0.4203) | (−1.3059) | |
LNBMEET | 0.0017 | −0.0038 | −0.0012 | −0.0294 | 0.1549 | 0.0049* | 0.0024 | −0.1073 | 0.0631 |
(0.5564) | (−0.9908) | (−0.3614) | (−1.3136) | (0.1462) | (1.6939) | (0.7354) | (−0.3910) | (1.3055) | |
DUAL | −0.0026 | −0.0018 | −0.0020 | 0.0042 | 0.8490 | −0.0060** | −0.0039 | 1.7938 | −0.0346 |
(−1.0217) | (−0.4289) | (−0.6193) | (0.3448) | (0.5969) | (−2.2817) | (−1.4522) | (1.5762) | (−1.0074) | |
LOANS | 0.0731*** | 0.0426** | 0.0697*** | 0.0563 | 0.2508 | 0.0357*** | 0.0341*** | 0.0665 | −0.0585 |
(4.4241) | (2.0701) | (4.4794) | (0.5366) | (0.1179) | (2.7020) | (2.5862) | (0.0744) | (−0.2614) | |
LEV | −0.0451 | 0.0070 | −0.0019 | −0.2603 | −0.3972 | −0.0987 | −0.1208** | −0.0541 | −0.1270 |
(−0.8737) | (0.1502) | (−0.0540) | (−0.9228) | (−0.0626) | (−1.4223) | (−2.1795) | (−0.0119) | (−0.1671) | |
TQ | 0.2273*** | 0.2394*** | 0.2284*** | −0.1894 | −0.0161 | 0.0580 | 0.0720*** | 0.0305 | 0.1168 |
(6.6889) | (7.9059) | (8.8343) | (−1.0618) | (−0.0030) | (1.5965) | (2.8810) | (0.0124) | (0.2756) | |
LNSIZE | 0.0069*** | −0.0024 | 0.0061*** | −0.0020 | 0.1976 | 0.0039*** | 0.0052*** | 1.3996 | 0.4381 |
(6.1212) | (−0.4125) | (3.3980) | (−0.4843) | (0.8084) | (3.2779) | (4.4980) | (1.5252) | (1.5673) | |
LNAGE | 0.0034 | 0.0782*** | 0.0098*** | 0.0024 | 6.5036 | 0.0091*** | 0.0054** | −0.3018 | −0.0653* |
(1.5159) | (5.8919) | (2.8159) | (0.4629) | (0.8673) | (4.1794) | (2.2755) | (−1.0494) | (−1.6852) | |
CONSTANT | −0.2806*** | −0.2813** | −0.2652*** | 0.2556 | −36.0679 | −0.0891* | −0.0572 | −44.8420 | −8.8493 |
(−4.9274) | (−2.0597) | (−5.1182) | (0.7955) | (−1.1012) | (−1.6827) | (−1.2234) | (−1.4997) | (−1.4943) | |
Observations | 1581 | 1581 | 1581 | 1284 | 1581 | 1581 | 1581 | 1581 | 1581 |
R-squared | 0.1170 | 0.1536 | 0.1334 |
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Number of banks |
| 299 | 299 | 297 |
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Number of instruments |
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| 41 |
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Year dummies | Yes | Yes | Yes | Yes |
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Hausman test (p-value) |
| 0.0003 | 0.0003 |
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|
AR(1) test (p-value) |
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| 0.000 |
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|
AR(2) test (p-value) |
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| 0.330 |
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Hansen test (p-value) |
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| 0.397 |
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