| Variable | coefficient | t-value |
| cons | 2.72 | 3.89*** |
| NLR | −5.45 | −5.06*** |
| BS | 0.12 | 2.01** |
| PRS | −3.95 | −3.18*** |
| MS | −1.82 | −1.82* |
| TPP | −0.26 | −10.11*** |
| GOP | −0.02 | −0.91 |
| gamma | 0.99 | |
| log likelihood function | 111.53 | |
| LR test | 107.90 | |