Future Business Journal

Table 8 Endogeneity test.

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

Variables	Coefficient	Std. error	t-value	Sig
RES_SMC	0.042	0.088	0.479	0.631
FDINI	− 0.099	0.117	− 0.853	0.394
GDPPG	− 2.055	1.143	− 1.796	0.073
STTR	0.027	0.028	0.972	0.331
CPI	0.269	1.322	0.203	0.838
C	144.0	4.765	30.21	0.000
R-²	0.760
Adjusted R²	0.726

	Value	df	Probability
Wald test: null hypothesis: C (1) = 0
t-value	0.479	314	0.631
F-value	0.230	(1, 314)	0.631
Chi-²	0.230	1	0.631
RES_FDINI	− 0.083	0.125	− 0.666	0.505
SMC	0.049	0.085	0.577	0.564
GDPPG	− 2.167	1.132	− 1.913	0.056
STTR	0.032	0.026	1.205	0.228
CPI	0.032	1.358	0.023	0.981
C	140.3	7.152	19.61	0.000
R-²	0.760
Adjusted R-²	0.726
Wald test: null hypothesis: C (1) = 0
t-value	− 0.666	314	0.505
F-value	0.444	(1, 314)	0.505
Chi-²	0.444	1	0.504
RES_STTR	0.032	0.026	1.210	0.227
FDINI	− 0.082	0.125	− 0.658	0.511
SMC	0.028	0.089	0.317	0.751
GDPPG	− 2.095	1.128	− 1.858	0.064
CPI	0.141	1.360	0.103	0.917
C	143.9	7.499	19.19	0.000
R-²	0.760
Adjusted R-²	0.7265
Wald test: null hypothesis: C (1) = 0
t-value	1.210	314	0.227
F-value	1.464	(1, 314)	0.227
Chi-²	1.464	1	0.226
RES_CPI	0.101	1.358	0.074	0.940
STTR	0.032	0.026	1.208	0.227
FDINI	− 0.081	0.127	− 0.635	0.525
SMC	0.044	0.086	0.516	0.606
GDPPG	− 2.195	1.017	− 2.157	0.031
C	141.1	7.118	19.83	0.000
R-²	0.760
Adjusted R-²	0.726
Wald test: null hypothesis: C (1) = 0
t-value	0.074	314	0.940
F-value	0.005	(1, 314)	0.940
Chi-²	0.005	1	0.940
RES_GDPPG	− 2.177	1.131	− 1.923	0.055
SMC	0.016	0.088	0.184	0.853
FDINI	− 0.078	0.125	− 0.626	0.531
STTR	0.026	0.026	1.010	0.312
CPI	0.389	1.282	0.303	0.761
C	139.4	7.189	19.39	0.000
R-²	0.760
Adjusted R-²	0.726
Wald test: null hypothesis: C (1) = 0
t-value	− 1.923	314	0.055
F-value	3.699	(1, 314)	0.055
Chi-²	3.699	1	0.054

Back to article page