Academia.eduAcademia.edu

Figure 7 – uploaded by Md. Mahbub Khan

See full PDFdownloadDownload figure
Note: The table above shows results from simultaneous equation modelling using the equations (1.1), (1.2) and (1.4). Industry average of LN BANK BORR (IND BBORR) and industry average of ACSREXP (IND_ACSREXP) are included into the equation (1.1) and (1.2) respectively as instrument variables. Model 1.4 is an extended version of Model 1.3, where Model 1.3 is augmented by the interaction factor of ACSREXP and LN_BANK_ BORR. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel B: Firm performance is measured as ROA

Table 7 Note: The table above shows results from simultaneous equation modelling using the equations (1.1), (1.2) and (1.4). Industry average of LN BANK BORR (IND BBORR) and industry average of ACSREXP (IND_ACSREXP) are included into the equation (1.1) and (1.2) respectively as instrument variables. Model 1.4 is an extended version of Model 1.3, where Model 1.3 is augmented by the interaction factor of ACSREXP and LN_BANK_ BORR. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel B: Firm performance is measured as ROA

Related Figures (9)

Note: Suffix ‘w’ indicates that the variable is winsorized at | percent level on both upper and lower tail Table 2 Descriptive statistics of the variables used
Note: Suffix ‘w’ indicates that the variable is winsorized at | percent level on both upper and lower tail Table 2 Descriptive statistics of the variables used
Note: *correlation coefficient is significant at 5 percent level. p-values are reported below the coefficients. Table 3 Correlation matrix
Note: *correlation coefficient is significant at 5 percent level. p-values are reported below the coefficients. Table 3 Correlation matrix
Note: The table above shows results from simultaneous equation modelling using the equations (1.1), (1.2) and (1.3). Industry average of LN BANK BORR (IND BBORR) and industry average of ACSREXP (IND_ACSREXP) are included into the equation (1.1) and (1.2) respectively as instrument variables. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel A: Firm performance is measured as Tobin’s Q
Note: The table above shows results from simultaneous equation modelling using the equations (1.1), (1.2) and (1.3). Industry average of LN BANK BORR (IND BBORR) and industry average of ACSREXP (IND_ACSREXP) are included into the equation (1.1) and (1.2) respectively as instrument variables. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel A: Firm performance is measured as Tobin’s Q
Note: The table above shows results from simultaneous equation modelling using the equations (1.1), (1.2) and (1.4). Industry average of LN BANK BORR (IND BBORR) and industry average of ACSREXP (IND_ACSREXP) are included into the equation (1.1) and (1.2) respectively as instrument variables. Model 1.4 is an extended version of Model 1.3, where Model 1.3 is augmented by the interaction factor of ACSREXP and LN_BANK_ BORR. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel A: Firm performance is measured as Tobin’s Q
Note: The table above shows results from simultaneous equation modelling using the equations (1.1), (1.2) and (1.4). Industry average of LN BANK BORR (IND BBORR) and industry average of ACSREXP (IND_ACSREXP) are included into the equation (1.1) and (1.2) respectively as instrument variables. Model 1.4 is an extended version of Model 1.3, where Model 1.3 is augmented by the interaction factor of ACSREXP and LN_BANK_ BORR. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel A: Firm performance is measured as Tobin’s Q
Note: The table above shows results from simultaneous equation modelling using the equations (2.1) and (2.2). *#e and * indicate statistical significance at the 1%, 5% and 10% levels, respectively.
Note: The table above shows results from simultaneous equation modelling using the equations (2.1) and (2.2). *#e and * indicate statistical significance at the 1%, 5% and 10% levels, respectively.
Note: The table above shows results from simultaneous equation modelling using the equations (2.3) and (2.4). *ex and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel B
Note: The table above shows results from simultaneous equation modelling using the equations (2.3) and (2.4). *ex and * indicate statistical significance at the 1%, 5% and 10% levels, respectively. Panel B
Note: The table above shows results from simultaneous equation modelling using the equations (2.1) and (2.2). Dummy variable (BBORR_DUM) equals to ‘1’ if a firm has bank borrowing and ‘0’ otherwise. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively.
Note: The table above shows results from simultaneous equation modelling using the equations (2.1) and (2.2). Dummy variable (BBORR_DUM) equals to ‘1’ if a firm has bank borrowing and ‘0’ otherwise. ***, **, and * indicate statistical significance at the 1%, 5% and 10% levels, respectively.
Related topics:
BusinessCorporate Social ResponsibilityAccountingFinancial InclusionSimultaneous Equation
580 California St., Suite 400
San Francisco, CA, 94104
© 2025 Academia. All rights reserved