| GMM1 | GMM2 | OC5% | |
---|---|---|---|---|
GMM1 | GMM2 | |||
LEV(L1) | 0.655*** | 0.632*** | 0.655*** | 0.630*** |
−0.026 | −0.013 | −0.025 | −0.012 | |
PROF | −0.037*** | −0.03*** | −0.03*** | −0.03*** |
−0.008 | −0.007 | −0.008 | −0.007 | |
SIZE | 0.033*** | 0.032*** | 0.033*** | 0.033*** |
−0.003 | −0.003 | −0.003 | −0.003 | |
NWC | −0.004 | −0.005 | −0.004 | −0.005 |
−0.01 | −0.01 | −0.01 | −0.01 | |
OC | 0.001 | 0.002 | 0.001 | 0.001 |
0 | 0 | −0.001 | −0.001 | |
NDTS | 0.003 | 0.001 | 0.007 | 0.009 |
−0.001 | −0.001 | −0.003 | −0.001 | |
BSIZE | 0.001 | 0.002 | 0.001 | 0.002 |
0 | 0 | 0 | 0 | |
MTB | 0.001 | 0.001 | 0.001 | 0.001 |
−0.001 | −0.001 | −0.001 | −0.001 | |
TR | 0.001 | 0.0003 | 0.002 | 0.001 |
0 | 0 | 0 | 0 | |
INDLEV | 0.335** | 0.322*** | 0.335*** | 0.321** |
−0.04 | −0.038 | −0.04 | −0.038 | |
LNDLIQ | −0.054** | −0.063** | −0.052** | −0.061** |
−0.028 | −0.026 | −0.028 | −0.025 | |
INDHHI | −0.019*** | −0.018** | −0.019** | −0.018** |
−0.004 | −0.004 | −0.004 | −0.004 | |
GDP | 0.003*** | 0.003*** | 0.003*** | 0.003*** |
−0.001 | −0.001 | −0.001 | −0.001 | |
INFL | −0.001** | −0.001** | −0.001** | −0.001** |
0 | 0 | 0 | 0 | |
LR | −0.009** | −0.009** | −0.009** | −0.009** |
−0.002 | −0.001 | −0.002 | −0.001 | |
Constant | −0.56*** | −0.55*** | −0.57*** | −0.56*** |
Abond test | 0.125 | 0.147 | 0.232 | 0.261 |
Sargan test | 0.561 | 0.784 | 0.217 | 0.328 |
 Wald chi2 | 1014.21 | 596.09 | 783.21 | 794.13 |