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Table 6 Effects of equity structures on bank lending over business cycles

From: The effect of equity structure and influence factors on China’s banking cyclical behavior and monetary policy

Variables

(I)

(ii)

(iii)

(iv)

gdp

−4.0962a***

−3.6539a***

−4.1117a***

−3.9382a***

 

(−10.06)

(−8.01)

(−9.33)

(−8.73)

crisis

0.0488a***

0.0481a***

0.0428a***

0.0434a***

 

(4.28)

(4.26)

(3.61)

(3.72)

car

−0.6463b**

−0.6866a**

−0.7341b**

−0.7322a***

 

(−2.68)

(−2.79)

(−2.43)

(−2.77)

dtl

0.1629a***

0.1673a***

0.1786a***

0.1733a***

 

(5.32)

(5.22)

(4.99)

(4.90)

size

−0.1242a***

−0.1229a***

−0.1388a***

−0.1366a***

 

(−6.30)

(−6.38)

(−6.13)

(−7.37)

roa

9.0760b**

8.8865b**

7.1814c**

6.5943c**

 

(2.37)

(2.26)

(1.84)

(1.74)

res_r

−1.5158a***

−1.5330a***

−1.5710a***

−1.5168a***

 

(−4.95)

(−4.75)

(−4.73)

(−4.69)

fshare

 

0.3347a***

 

0.2289

  

(2.90)

 

(1.66)

state

  

0.1218a***

0.1292a***

   

(3.04)

(3.26)

fsharecgdp

 

−1.6071b**

 

−0.2045

  

(−2.06)

 

(−0.22)

statecgdp

  

−1.2404a***

−1.4489a***

   

(−2.84)

(−3.21)

R-squ (within)

0.4659

0.4758

0.4887

0.5058

Observations

241

238

237

237

No of Banks

33

33

33

33

Hausman Test p-value

0.0000

0.0000

0.0000

0.0000

  1. Note:*** a, b, c denote the significance at 1, 5, and 10% confidence level. The value in the bracket below reports the t value in t test. R-squ means the goodness of fit. The Hausman test p value shows the p in Hausman test, which is employed to prove if the fixed effect model is better than random effect model