(a)

Variables

E

NDefault

LDefault

HDefault

Default

FinTech

−0.0835***

0.3669**

−0.2833**

−0.0632**

−0.0204*

(0.027)

(0.142)

(0.119)

(0.026)

(0.011)

E

0.1271

−0.3994

0.1006

0.1717***

(0.835)

(0.701)

(0.154)

(0.062)

Constant

35.0802***

18.5872

76.2517***

6.3583

−1.1971

(2.307)

(31.084)

(26.073)

(5.732)

(2.304)

Bank FE

YES

YES

YES

YES

YES

Observations

35

35

35

35

35

R-squared

0.241

0.229

0.180

0.269

0.441

(b)

Variables

E

NDefault

LDefault

HDefault

Default

FinTech

−0.1573***

0.3593*

−0.2791*

−0.0534

−0.0279**

(0.035)

(0.175)

(0.149)

(0.031)

(0.012)

E

−0.2200

−0.0737

0.1494

0.1621**

(0.964)

(0.818)

(0.164)

(0.063)

Controls

YES

YES

YES

YES

YES

Constant

35.5189***

−9.0969

97.0706**

13.2955

−0.0957

(10.984)

(48.803)

(41.386)

(7.969)

(3.074)

Bank FE

YES

YES

YES

YES

YES

Observations

30

30

30

30

30

R-squared

0.619

0.329

0.251

0.402

0.575