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Future Business Journal

Table 6 Method: PANEL EGLS (cross-sectional random effects).

From: The stock market capitalisation and financial growth nexus: an empirical study of western European countries

Variables Coefficient Std. error t-value Sig
Constant 138.0 7.807 17.67 0.000***
SMC 0.173 0.040 4.246 0.000***
GDPPG  − 3.482 0.609  − 5.712 0.000***
CPI  − 2.694 0.569  − 4.729 0.000***
FDINI 0.101 0.120 0.837 0.402
STTR 0.052 0.024 2.106 0.035**
Weighted statistics
 R-2 0.193    
 Adjusted R-2 0.181    
 F-value 16.93    
 sig(F-value) 0.000    
 Observations 360    
 Cross sections included 12    
 Effects specification
  S.D Rho   
Cross-sectional random 22.78 0.465   
Idiosyncratic random 24.41 0.534   
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