Table 7 Sub-sample analysis
From: Corruption and its diverse effect on credit risk: global evidence
Variables | High corruption countries | Low corruption countries | High economic freedom | Low economic freedom | ||||
|---|---|---|---|---|---|---|---|---|
Coefficient | t-statistics | Coefficient | t-statistics | Coefficient | t-statistics | Coefficient | t-statistics | |
Corruption | − 0.257 | − 2.252 (**) | 0.278 | 4.353 (***) | 0.175 | 3.37 (**) | − 0.022 | − 0.27 |
Capitalization | 0.553 | 24.885 (***) | 0.398 | 17.237 (***) | 0.356 | 14.14 (***) | 0.582 | 27.94 (***) |
Credit Disclosure Index | 0.064 | 0.942 | 0.119 | 3.052 (***) | 0.138 | 3.23 (**) | 0.049 | 0.92 |
GDP Growth | − 0.039 | − 2.383 (**) | − 0.180 | − 5.706 (***) | − 0.155 | − 4.72 (***) | − 0.045 | − 2.74 (**) |
Inflation | 0.000 | 0.046 | − 0.053 | − 3.033 (***) | − 0.081 | − 2.78 (**) | − 0.001 | − 0.29 |
Public Debt | − 0.003 | − 0.530 | 0.003 | 0.803 | 0.004 | 1.26 | − 0.016 | − 2.83 (**) |
Remittance | − 0.014 | − 0.880 | 0.016 | 0.756 | 0.053 | 2.60 (**) | 0.002 | 0.11 |
Trade Openness | − 0.001 | − 0.367 | 0.008 | 4.512 (***) | 0.007 | 4.12 (***) | 0.002 | 0.81 |
Unemployment | − 0.015 | − 0.779 | 0.122 | 6.698 (***) | 0.109 | 4.85 (***) | 0.030 | 1.84 (**) |
Constant | 3.200 | 2.861 (***) | − 1.843 | − 3.162 (***) | − 1.987 | − 3.35 (**) | 0.485 | 0.60 |
Adjusted r-square | 0.330 | 0.282 | 0.238 | 0.347 | ||||
F-value | 86.183 (***) | 72.563 (***) | 48.95 (***) | 108.58 (***) | ||||
Observations | 1764 | 1436 | 1381 | 1819 | ||||
VIF | 1.12 | 1.16 | 1.17 | 1.11 | ||||
Hausman Test | 16.31 (*) | 139.74 (***) | 82.96 (***) | 11.63 | ||||