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Table 5 Effect of governor’s gender and cognitive ability on financial stability

From: Does competence of central bank governors influence financial stability?

 

LLC

NPL

CAR

CRISIS

(1)

(2)

(3)

(4)

(5)

(6)

(7)

(8)

Coefficient (t-statistic)

Coefficient (t-statistic)

Coefficient (t-statistic)

Coefficient (t-statistic)

Coefficient (t-statistic)

Coefficient (t-statistic)

Coefficient (t-statistic)

Coefficient (t-statistic)

C

− 8.860 (− 0.36)

12.214 (0.63)

18.295*** (3.18)

12.935*** (2.82)

5.686* (1.73)

8.711*** (3.34)

0.252 (0.63)

0.419 (1.42)

MALE

21.074*** (2.63)

 

− 5.359*** (− 2.79)

 

3.025*** (2.74)

 

0.168 (1.12)

 

EE*MALE

− 50.885*** (− 3.87)

 

6.635** (2.28)

 

− 3.449** (− 2.08)

 

0.076 (0.35)

 

FEMALE

 

− 21.074*** (− 2.63)

 

5.359*** (2.79)

 

− 3.025*** (− 2.74)

 

− 0.168 (− 1.12)

EE*FEMALE

 

50.885*** (3.88)

 

− 6.635*** (− 2.28)

 

3.449** (2.08)

 

− 0.076 (− 0.35)

PE

5.105 (0.59)

5.105 (0.59)

− 1.929 (− 0.95)

− 1.929 (− 0.95)

3.499*** (3.01)

3.499*** (3.01)

0.157 (1.08)

0.157 (1.08)

EE

43.615*** (3.25)

− 7.269 (− 1.15)

− 4.083 (− 1.33)

2.552* (1.82)

4.513*** (2.62)

1.064 (1.35)

0.085 (0.37)

0.161* (1.79)

EA

− 4.375 (− 0.76)

− 4.376 (− 0.76)

0.295 (0.21)

0.295 (0.21)

− 0.076 (− 0.09)

− 0.076 (− 0.09)

− 0.129 (− 1.34)

− 0.129 (− 1.34)

PD

− 7.884 (− 1.08)

− 7.884 (− 1.08)

− 5.166*** (− 2.93)

− 5.166*** (− 2.93)

2.349** (2.33)

2.349** (2.33)

0.142 (1.11)

0.142 (1.11)

AGE

0.951*** (3.18)

0.951*** (3.18)

− 0.097 (− 1.39)

− 0.097 (− 1.39)

0.067* (1.72)

0.067* (1.72)

− 0.006 (− 1.36)

− 0.006 (− 1.36)

GDPR

1.094* (1.96)

1.094* (1.96)

0.051 (0.34)

0.051 (0.34)

− 0.047 (− 0.53)

− 0.047 (− 0.53)

− 0.012 (− 1.39)

− 0.012 (− 1.39)

INF

0.128 (0.64)

0.128 (0.64)

0.003 (0.03)

0.003 (0.03)

0.046 (0.72)

0.046 (0.72)

0.001 (0.24)

0.001 (0.24)

INT

− 0.215 (− 0.64)

− 0.215 (− 0.65)

0.141 (1.48)

0.141 (1.48)

− 0.108* (− 1.69)

− 0.108* (− 1.69)

0.014*** (2.65)

0.014*** (2.65)

R2

86.24

86.24

65.95

65.95

66.81

66.81

48.65

48.65

Adjusted R2

83.00

83.00

57.85

57.85

58.67

58.67

36.13

36.13

F-statistic

26.67

26.67

8.14

8.14

8.21

8.21

3.89

3.89

Fixed effect

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Observations

206

206

204

204

199

199

200

200

  1. The results in this table are estimated using fixed-effect regression. Country and period fixed effect were applied
  2. ***, **, * represent significance at 1%, 5%, 10%