Model8

Model8

Model9

Model10

Variable substitution

Endogeneity test

ROA

Sat

ROA

Sat

ROA

All

non-state-owned commercial Banks

state-owned commercial Banks

All

All

All

All

PP

0.0202**

(2.57)

9.0731***

(3.89)

PP2

0.0004

(1.29)

0.0003

(0.65)

0.0009**

(2.42)

0.5769***

(3.97)

Sat

0.0007***

(3.00)

NPL

−0.085***

(−2.77)

−0.172***

(−3.35)

−0.0409

(−0.99)

−13.9939*

(−1.69)

−0.238***

(−9.16)

−18.848*

(−1.95)

−0.2116***

(−8.82)

Size

0.0004

(0.54)

−0.0033**

(−2.52)

−0.0032*

(−2.32)

−0.0039

(−0.13)

0.0005***

(4.66)

0.0035

(0.11)

0.0005***

(4.7)