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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%