Table 2 ARDL Bound Test.
From: Capitalization and profitability: applicability of capital theories in BRICS banking sector
Models | Variables | Statistics | Brazil | Russia | India | China | South Africa |
|---|---|---|---|---|---|---|---|
Model 1 | DV: CAR IV: ROA | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 4.28** | 2.97 | 4.568** | 1.810 | 4.771** | ||
Model 2 | DV: CAR IV: ROE | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 4.23** | 4.006 | 4.652** | 3.132 | 1.008 | ||
Model 3 | DV: CR IV: ROA | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 6.671** | 0.895 | 4.214** | 1.769 | 6.843** | ||
Model 4 | DV: CR IV: ROE | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 6.167** | 0.959 | 4.240** | 1.927 | 1.558 | ||
Model 5 | DV: ROA IV: CAR | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 4.542** | 4.72** | 4.469** | 5.228** | 4.232** | ||
Model 6 | DV: ROE IV: CAR | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 4.686** | 4.833** | 4.408** | 4.947** | 13.80** | ||
Model 7 | DV: ROA IV: CR | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 2.005 | 4.940** | 4.199** | 4.749** | 4.329** | ||
Model 8 | DV: ROE IV: CR | Upper Bound | 4.16 | 4.16 | 4.16 | 4.16 | 4.16 |
Lower Bound | 3.62 | 3.62 | 3.62 | 3.62 | 3.62 | ||
F. Statistics | 1.505 | 5.405** | 4.482** | 4.143** | 2.389 | ||
Level of Significance (%) | 5% | 5% | 5% | 5% | 5% | 5% |