Các yếu tố tác động đến tăng trưởng tín dụng của các ngân hàng tmcp việt nam, 2023

BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC NGÂN HÀNG TP HỒ CHÍ MINH KHĨA LUẬN TỐT NGHIỆP ĐẠI HỌC CÁC Y U TỐ TÁC ĐỘNG Đ N T NG TRƯ NG TÍN DỤNG C A CÁC NGÂN HÀNG THƯ NG MẠI C VIỆT NAM Ngành: Tài Chính - Ngân Hàng Mã số: 34 02 01 V N NGỌC TƯỜNG VY TP HỒ CHÍ MINH, N M 2023 Tai ngay!!! Ban co the xoa dong chu nay!!! PH N BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC NGÂN HÀNG TP HỒ CHÍ MINH KHĨA LUẬN TỐT NGHIỆP ĐẠI HỌC CÁC Y U TỐ TÁC ĐỘNG Đ N T NG TRƯ NG TÍN DỤNG C A CÁC NGÂN HÀNG THƯ NG MẠI C PH N VIỆT NAM Chuyên ngành: Tài hính - Ngân hàng Mã ngành: 34 02 01 H t n sinh vi n V N NGỌC TƯỜNG VY M s sinh vi n L p sinh ho t HQ -GE18 NGƯỜI HƯ NG D N KHOA HỌC TS Đ TH HÀ THƯ NG TP HỒ CHÍ MINH N M i TĨM T T Tn ng ho t ng kinh o nh h nh t o r l i nhu n ho h thống ng n hàng t i Vi t N m Ch nh v v y t ng tr ng t n NHNN NHTMCP t i Vi t N m qu n t m n n kinh t nhi u i n hi n nghiên u ng nh hi n n y y u tố t ng ng x m y u tố mà i t nh t t nh h nh nguyên nh n mà t n t ng tr ng t n ng gi s th NHTMCP t i Vi t N m ài vi t th hi n v i nh h nh t m r NHTMCP Vi t N m gi i o n TTTD gi p ph t tri n ho t m h nh Pool ng t n ng t y u tố t 3-2021 t r ng l i Nghiên OLS FEM REM s u v i i n ph p kh qu ho th y ng s i s i số th y hi n ki m nh l nh khuy t t t ti n hành ng n t t ng huy ng vốn (DEP) L i nhu n r ng vốn h s h u (ROE) T l lãi n iên ng l p nh T ng tr ng hi u n i n ph thu r k t qu ng ng kinh t (GDP) T ng tr t lu n ã ng qu n ng k t i n khuy t t t Kh ki n ngh uối (NIM) ph i n u ti n hành th h n m h nh ph h p m h nh h i quy GLS S u ki m m h nh nh ph ng TTTD Trong i nT l l m ph t (INF) T l n x u (NPL) Su t sinh l i t ng tài s n (RO ) T l n t ng tài s n (DEPT ) t NHTMCP n i n Quy m ng n hàng (SIZE) kh ng h nh T k t qu tri n n v ng ho t T kh ng ng t gi r hàm ng TTTD hi u ngh thống kê m h nh s h nh m kh NHTMCP t i Vi t N m ƣ n TTTD NHTMCP kh ph t ii ABSTRACT Credit is the core business activity that generates profits for the banking system in Vietnam Therefore, the growth of credit is considered a critical factor of interest for the State Bank of Vietnam (SBV) and commercial banks in Vietnam, especially in the current economic environment characterized by various fluctuations This is the reason why the author intends to conduct research on the factors influencing the credit growth of commercial banks in Vietnam The objective of this article is to identify the factors that impact the credit growth of Vietnamese commercial banks during the period 2013-2021 and provide recommendations for the future development of credit operations The research is carried out using various econometric models such as Pooled OLS, Fixed Effects Model (FEM), Random Effects Model (REM), and subsequently selecting the appropriate model, which is the Generalized Least Squares (GLS) regression model The model is tested for potential shortcomings such as changing variance, multicollinearity, and autocorrelation, and appropriate remedies are applied The conclusion presents the final results, which indicate that independent variables such as Economic Growth (GDP), Capital Mobilization Growth (DEP), Return on Equity (ROE), and Net Interest Margin (NIM) have a positive impact on the dependent variable, which is credit growth On the other hand, variables like Inflation Rate (INF), Non-Performing Loan Ratio (NPL), Return on Assets (ROA), and Debt-to-Asset Ratio (DEPTA) have a negative impact on credit growth Meanwhile, the variable Bank Size (SIZE) does not show statistically significant results in the model Based on these findings, the author proposes policy implications to effectively manage and sustain the credit operations of commercial banks in Vietnam Keywords: Credit, Credit growth, Joint-stock commercial banks, Vietnam iii LỜI CAM ĐOAN Em xin m o n kh lu n tốt nghi p v i h Nam” m t k t qu nghiên h ng n gi ng viên h u ng th hi n n kho h s hi u i t t m ki m nghiên nghiên l p u“ n th n m TS Đ Th Hà Th u tài li u kho h is ng h y n h ã ng ố ài nghiên u nghiên u tr kho h C nghiên ngu n gố r ràng li u s s ng m t số tr h n v qu n i m kho h ài vi t kho h ng ố u th m kh o k th y t i ng nghiên nh m u t p h ài vi t tài li u th m kh o l y ài o tr h n ài vi t Song kênh h nh thống ng ố r ng rãi K t qu nghiên ài nghiên u trung th u h y t p h kho h Em xin h u tr h nhi m v kh h qu n h ng ố tk kh ài nghiên u m nh 06 T gi V n Ng T ng Vy 2023 iv LỜI CẢM L i tr ng u tiên ih qu t o t i tr lu n mà n qu th y n ng i t m xin h n thành ng r nhi u l i khuyên h u i ã truy n Trong qu tr nh th hi n kh n m th g i lu n tốt nghi p ki n ng g p th y ki n th s u ng th i m t hoàn thi n hỉnh s hỉnh s u ài h n ki n ng g p y s hành tr ng qu gi gi p m tr u i thêm m t h lũy thêm kỹ n ng Em xin h n thành n hi n kh hi n nghiên nên s kh ng tr nh khỏi nh ng thi u s t Em r t mong nh n nh ng m ã ố g ng thu th p n h n h p th i gi n th phê u m nh n thi t ũng nh l ng ngh vi t Tuy nhiên, o ki n th ng t i t ho m t p nghiên h ũng nh lu n tốt nghi p ng t m n Gi ng viên h kh ng hỉ nhi t t nh h th hoàn thành tốt kh li u th ng tin ng u suốt quãng th i gi n m h Th Hà Th - TS m n Ng n hàng thành phố H Ch Minh ng nh ng ki n th em m xin tr n tr ng N nhi u kinh nghi m ngày n th n h n n m n! p , 06 T gi V n Ng T ng Vy 2023 v MỤC LỤC TÓM T T i LỜI CAM ĐOAN iii LỜI CẢM N iv MỤC LỤC v DANH MỤC T VI T T T ix DANH MỤC H NH x DANH MỤC BẢNG xi CHƯ NG GI I THIỆU V NGHI N C U 1.1 L o h n 1.2 M ti u tài tài .3 1.2.1 M tiêu t ng qu t 1.2.2 M tiêu th 1.3 Câu h i nghi n 1.4 Đ i t u ng ph m vi nghi n ối t 1.4.1 ng nghiên u .3 u 1.4.2 Ph m vi nghiên u 1.5 Ph ng ph p nghi n u 1.6 Đ ng g p 1.7 K t tài u tài .5 TÓM T T CHƯ NG CHƯ NG C S L THUY T VÀ T NG QUAN NGHI N C U TRƯ C T ng tr ng tín Kh i ni m t n ng ngân hàng th ng m i ng ng n hàng .7 Kh i ni m t ng tr ng t n ng ng n hàng vi C ut t C ng n TTTD NHTM u t v m 22 ƣ 22 C p – IR) .10 u t n i t i 11 222 ƣ 11 2222 .11 2223 12 2224 13 2225 13 2226 ƣ 14 2227 L 14 kh o nghi n u tr C nghiên un C nghiên u n li n qu n 14 14 16 TÓM T T CHƯ NG 20 CHƯ NG M H NH VÀ PHƯ NG PHÁP NGHI N C U 21 M h nh nghi n u 21 M h nh nghiên Gi i th h u xu t 21 i n m h nh 22 3.1.2.1 .22 3.1.2.1 22 3.1 Gi thu t nghi n Qu tr nh nghi n Ph u 24 u .29 ng ph p nghi n Ph ng ph p s u 30 ng 30 vii Thống kê m t 30 Ph n t h t ng qu n 31 Ph n t h h i quy 31 Ki m nh l h n m h nh .31 Ki m nh khuy t t t m h nh .31 31 .32 32 TÓM T T CHƯ NG 32 CHƯ NG K T QUẢ NGHI N C U VÀ THẢO LUẬN 33 Th ng k m t 33 Phân tí h t Ki m ng qu n .36 nh ng tu n 37 Phân tí h h i qu m h nh Pool H i quy th o m h nh Pool OLS FEM REM .38 OLS .38 H i quy th o m h nh FEM 39 H i quy th o m h nh REM .40 So s nh gi m h nh Pool OLS FEM REM .41 .41 41 Ki m tr khu t t t 42 Ki m nh t t Ki m nh ph ng qu n .42 ng s i s i số th y i 43 H i qu GLS 43 K t qu nghi n u .44 viii Th o lu n k t qu nghi n u .46 TÓM T T CHƯ NG 48 CHƯ NG K T LUẬN VÀ HÀM QUẢN TR 50 K t lu n .50 Hàm qu n tr 51 ối v i t ng tr ng kinh t 51 ối v i t ng tr ng huy ng vốn 52 ối v i t l l m ph t 52 ối v i t l n x u .53 ối v i l i nhu n r ng vốn h s h u 54 ối v i su t sinh l i t ng tài s n 54 ối v i t l n t ng tài s n 55 ối v i t l lãi 5.2 H n h nghiên n iên 56 u 56 TÓM T T CHƯ NG 56 K T LUẬN CHUNG 58 TÀI LIỆU THAM KHẢO 59 PHỤ LỤC 62 66 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 BacABank BacABank BacABank BacABank VietCapitalBank VietCapitalBank VietCapitalBank VietCapitalBank VietCapitalBank VietCapitalBank VietCapitalBank VietCapitalBank VietCapitalBank BaoVietBank BaoVietBank BaoVietBank BaoVietBank BaoVietBank BaoVietBank BaoVietBank BaoVietBank BaoVietBank LienvietPostBank LienvietPostBank LienvietPostBank LienvietPostBank LienvietPostBank 15,30% 13,99% 8,92% 6,49% 28,93% 29,46% 22,12% 32,35% 19,23% 18,61% 14,50% 17,17% 16,46% 17,91% 23,06% 31,67% 19,44% 31,13% 18,47% 3,84% 7,74% 10,49% 7,75% 10,49% 31,53% 10,07% 80,23% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 14,38% 5,00% 13,50% 8,10% 16,93% 21,97% 26,80% 32,14% 9,80% 23,95% 5,14% 17,47% 9,36% 37,31% 44,27% 21,87% 36,20% 16,82% 12,37% 8,13% 15,39% 9,89% 34,39% 40,08% 1,25% 42,97% 15,58% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 0,76% 0,69% 0,79% 0,77% 4,11% 4,06% 3,12% 1,27% 1,22% 1,06% 2,51% 2,79% 2,53% 3,91% 3,65% 3,22% 2,59% 3,78% 3,98% 5,22% 7,27% 4,94% 2,48% 1,40% 0,97% 1,11% 1,07% 10,06% 10,06% 7,27% 8,34% 3,18% 4,97% 1,61% 1,02% 1,01% 2,78% 3,51% 4,22% 5,83% 3,35% 3,23% 2,62% 2,77% 3,42% 2,30% 2,33% 1,59% 1,78% 7,71% 6,36% 4,67% 13,34% 15,45% 13,99 14,03 14,07 14,08 13,36 13,41 13,46 13,51 13,60 13,67 13,71 13,79 13,88 13,23 13,38 13,49 13,54 13,69 13,75 13,78 13,77 13,82 13,90 14,00 14,03 14,15 14,21 0,72% 0,73% 0,52% 0,61% 0,47% 0,66% 0,19% 0,05% 0,09% 0,22% 0,26% 0,28% 0,36% 0,71% 0,51% 0,32% 0,29% 0,28% 0,15% 0,14% 0,10% 0,10% 0,77% 0,52% 0,34% 0,85% 0,90% 65,94% 67,60% 67,79% 70,62% 43,51% 50,38% 54,66% 64,83% 62,74% 63,78% 65,62% 65,19% 60,63% 47,40% 40,52% 42,00% 44,91% 44,48% 46,08% 41,40% 38,59% 38,55% 37,12% 40,96% 52,20% 56,16% 61,57% 1,91% 2,05% 1,97% 1,98% 3,33% 3,19% 4,72% 2,09% 1,59% 1,09% 1,67% 1,54% 1,87% 3,48% 3,48% 1,88% 2,22% 2,37% 1,38% 1,43% 1,57% 1,69% 3,57% 2,88% 3,14% 3,50% 3,60% 67 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 LienvietPostBank LienvietPostBank LienvietPostBank LienvietPostBank VietinBank VietinBank VietinBank VietinBank VietinBank VietinBank VietinBank VietinBank VietinBank PVcomBank PVcomBank PVcomBank PVcomBank PVcomBank PVcomBank PVcomBank PVcomBank PVcomBank BIDV BIDV BIDV BIDV BIDV 28,52% 39,74% 36,03% 41,86% 12,88% 16,90% 22,33% 23,03% 19,44% 9,39% 8,13% 8,56% 11,36% 3,53% 3,02% 5,19% 25,03% 17,77% 18,27% 10,53% 9,48% 4,81% 15,04% 13,98% 34,27% 20,93% 19,79% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 3,59% 9,52% 27,53% 3,29% 26,08% 16,37% 16,21% 32,88% 14,94% 9,68% 8,11% 10,93% 17,32% 96,09% 44,70% 8,89% 28,99% 6,24% 16,04% 10,20% 4,56% 3,02% 11,83% 29,97% 28,20% 28,57% 18,45% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 1,41% 1,44% 1,43% 1,37% 1,00% 1,12% 0,92% 1,02% 1,14% 1,59% 1,16% 0,94% 1,26% 4,92% 4,78% 4,56% 3,97% 1,74% 2,47% 2,34% 3,10% 3,50% 2,26% 2,03% 1,68% 1,99% 1,62% 9,80% 14,05% 13,89% 18,52% 13,25% 10,50% 10,29% 11,78% 12,02% 8,05% 13,10% 16,90% 15,88% 0,27% 1,89% 0,75% 0,40% 0,90% 0,86% 0,88% 0,70% 0,83% 13,84% 15,27% 16,87% 14,41% 14,94% 14,24 14,31 14,38 14,46 14,76 14,82 14,89 14,98 15,04 15,07 15,09 15,13 15,19 14,00 14,04 13,99 14,06 14,10 14,15 14,06 14,26 14,28 14,74 14,81 14,93 15,00 15,08 0,57% 0,85% 0,84% 1,08% 1,08% 0,93% 0,79% 0,79% 0,73% 0,47% 0,79% 1,07% 0,99% 0,02% 0,17% 0,07% 0,04% 0,08% 0,07% 0,00% 0,04% 0,05% 0,78% 0,83% 0,85% 0,67% 0,63% 68,07% 3,12% 69,55% 3,37% 72,88% 3,17% 72,25% 3,53% 65,29% 4,70% 66,52% 4,70% 69,03% 3,79% 69,79% 1,42% 72,20% 2,10% 74,29% 2,40% 75,38% 2,22% 75,69% 0,76% 73,82% 1,60% 40,67% -1,99% 39,06% -0,67% 40,74% 0,54% 44,03% 0,34% 46,74% 1,24% 49,77% 0,96% 47,83% 1,01% 46,67% 1,15% 46,23% 1,19% 71,31% 2,85% 68,53% 2,98% 70,36% 2,72% 71,91% 2,64% 72,10% 2,91% 68 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 BIDV BIDV BIDV BIDV SeaBank SeaBank SeaBank SeaBank SeaBank SeaBank SeaBank SeaBank SeaBank MSB MSB MSB MSB MSB MSB MSB MSB MSB KLB KLB KLB KLB KLB 14,06% 12,97% 8,71% 11,56% 25,36% 53,22% 33,49% 37,81% 19,56% 18,98% 17,52% 10,40% 17,19% 5,30% -14,23% 19,49% 25,02% 3,11% 34,66% 30,42% 24,76% 28,01% 25,25% 11,53% 19,90% 21,88% 24,89% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 15,08% 12,58% 10,10% 12,53% 15,06% 24,45% 26,62% 26,50% 10,96% 5,38% 13,50% 18,33% 4,08% 9,91% 3,44% 0,99% 8,01% 1,28% 11,75% 27,30% 8,21% 8,12% 25,02% 24,56% 21,18% 13,99% 14,13% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 1,90% 1,75% 1,76% 1,00% 1,56% 1,37% 1,43% 1,70% 0,84% 1,51% 2,31% 1,86% 1,65% 2,71% 5,16% 3,41% 2,36% 2,23% 3,01% 2,04% 1,96% 1,74% 2,47% 1,95% 1,13% 1,06% 0,84% 14,59% 12,93% 9,18% 13,06% 2,68% 1,52% 1,60% 2,01% 5,06% 6,82% 11,43% 11,06% 16,12% 3,57% 1,51% 1,01% 1,03% 0,89% 6,31% 7,28% 12,67% 20,74% 9,06% 5,14% 4,90% 3,59% 5,83% 15,12 15,17 15,18 15,25 13,90 13,90 13,93 14,01 14,10 14,15 14,20 14,26 14,33 14,03 14,02 14,02 13,97 14,05 14,14 14,20 14,25 14,31 13,33 13,36 13,40 13,48 13,57 0,60% 0,61% 0,48% 0,66% 0,20% 0,11% 0,11% 0,12% 0,27% 0,37% 0,74% 0,81% 1,33% 0,30% 0,14% 0,11% 0,14% 0,12% 0,69% 0,71% 1,21% 2,12% 1,57% 0,79% 0,68% 0,43% 0,60% 75,30% 74,97% 80,06% 76,89% 26,21% 39,99% 50,50% 57,07% 56,42% 59,73% 62,65% 60,41% 60,28% 25,59% 22,53% 26,93% 37,92% 32,26% 35,39% 40,51% 44,90% 49,87% 56,75% 58,55% 64,05% 64,91% 66,13% 2,87% 2,64% 2,45% 2,92% 1,43% 0,99% 1,51% 2,11% 1,88% 1,96% 2,12% 1,93% 2,87% 1,81% 1,39% 1,83% 2,69% 1,89% 2,79% 2,47% 3,35% 3,66% 5,67% 3,97% 3,84% 3,22% 3,48% 69 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 KLB KLB KLB KLB Techcombank Techcombank Techcombank Techcombank Techcombank Techcombank Techcombank Techcombank Techcombank NamABank NamABank NamABank NamABank NamABank NamABank NamABank NamABank NamABank Vietcombank Vietcombank Vietcombank Vietcombank Vietcombank 19,39% 13,60% 3,69% 10,57% 2,95% 14,28% 39,69% 27,13% 12,78% 1,13% 33,31% 20,24% 25,16% 68,95% 37,09% 31,55% 15,21% 51,19% 39,81% 32,92% 32,02% 15,12% 13,74% 17,87% 19,91% 18,85% 17,93% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 11,80% 12,72% 27,63% 22,32% 7,64% 9,76% 8,01% 21,94% 1,43% 17,81% 14,84% 19,96% 13,44% 87,13% 48,54% 19,93% 39,85% 16,96% 35,94% 30,56% 38,89% 17,37% 16,42% 27,08% 18,70% 17,82% 20,00% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 0,94% 1,02% 5,42% 1,89% 3,65% 2,38% 1,66% 1,58% 1,61% 1,75% 1,33% 0,47% 0,66% 1,48% 1,47% 0,91% 2,94% 1,95% 1,54% 1,97% 0,83% 1,57% 2,73% 2,31% 1,84% 1,50% 1,14% 6,35% 1,79% 3,28% 17,92% 4,84% 7,49% 9,73% 17,47% 27,71% 21,53% 17,96% 18,41% 21,97% 4,13% 5,68% 5,76% 0,96% 6,74% 14,97% 15,92% 13,84% 19,62% 10,43% 10,68% 12,03% 14,78% 18,09% 13,63 13,71 13,76 13,92 14,20 14,25 14,28 14,37 14,43 14,51 14,58 14,64 14,75 13,46 13,57 13,55 13,63 13,74 13,88 13,98 14,13 14,19 14,67 14,76 14,83 14,90 15,02 0,58% 0,14% 0,23% 1,09% 0,39% 0,65% 0,83% 1,47% 2,55% 2,87% 2,90% 3,06% 3,65% 0,60% 0,57% 0,53% 0,08% 0,49% 0,91% 0,86% 0,70% 1,00% 0,99% 0,88% 0,85% 0,94% 1,00% 69,66% 65,52% 60,61% 45,80% 44,23% 45,65% 58,43% 60,59% 59,71% 49,83% 60,15% 63,13% 61,07% 40,20% 42,53% 58,83% 56,10% 66,76% 67,70% 71,34% 66,39% 66,99% 58,49% 56,04% 57,49% 58,48% 52,49% 2,73% 2,36% 1,89% 2,89% 2,99% 3,93% 4,39% 4,21% 3,89% 4,13% 4,45% 5,01% 5,79% 2,11% 2,27% 2,95% 3,27% 2,75% 2,73% 2,69% 2,42% 3,12% 2,52% 2,34% 2,58% 2,63% 2,49% 70 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 Vietcombank Vietcombank Vietcombank Vietcombank HDBank HDBank HDBank HDBank HDBank HDBank HDBank HDBank HDBank OCB OCB OCB OCB OCB OCB OCB OCB OCB MB MB MB MB MB 16,27% 16,28% 14,30% 14,40% 68,20% 4,90% 35,12% 43,12% 27,09% 17,83% 18,84% 21,87% 13,96% 17,06% 6,37% 29,03% 39,04% 25,13% 16,88% 26,23% 25,53% 14,36% 17,81% 14,62% 20,66% 24,22% 22,19% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 13,18% 15,78% 11,17% 10,00% 82,08% 4,85% 13,96% 38,58% 16,69% 6,24% 1,59% 38,57% 4,96% 25,17% 25,02% 23,46% 45,95% 23,55% 13,45% 14,54% 26,08% 13,35% 15,58% 23,16% 8,33% 7,30% 13,02% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 0,98% 0,79% 0,62% 0,64% 3,67% 2,28% 1,59% 1,46% 1,52% 1,53% 1,36% 1,32% 1,65% 5,14% 4,22% 4,06% 1,75% 1,79% 2,29% 1,84% 1,69% 1,32% 2,45% 2,73% 1,61% 1,32% 1,20% 25,49% 25,90% 21,11% 21,59% 3,11% 5,46% 6,90% 9,78% 16,24% 20,27% 21,61% 20,61% 23,26% 6,20% 5,53% 5,08% 8,65% 15,05% 23,58% 25,44% 24,43% 22,45% 16,32% 15,79% 12,64% 11,59% 12,42% 15,03 15,09 15,12 15,15 13,94 14,00 14,03 14,18 14,28 14,33 14,36 14,50 14,57 13,52 13,59 13,69 13,80 13,93 14,00 14,07 14,18 14,27 14,26 14,30 14,34 14,41 14,50 1,39% 1,61% 1,45% 1,60% 0,31% 0,51% 0,61% 0,71% 1,15% 1,58% 1,80% 1,69% 1,86% 0,80% 0,61% 0,47% 0,68% 1,10% 1,91% 2,37% 2,61% 2,61% 1,28% 1,31% 1,19% 1,21% 1,22% 58,83% 60,09% 63,32% 67,91% 51,06% 42,06% 53,11% 54,71% 55,19% 56,99% 63,76% 55,88% 54,25% 61,53% 54,90% 56,01% 60,34% 57,16% 56,34% 60,16% 58,51% 55,31% 48,64% 50,16% 54,90% 58,82% 58,68% 2,78% 3,10% 2,92% 3,17% 2,24% 2,09% 3,64% 4,07% 4,07% 4,05% 4,70% 4,75% 4,44% 4,69% 3,21% 3,19% 3,09% 3,46% 3,96% 3,93% 3,88% 3,69% 3,72% 3,81% 3,81% 3,58% 4,19% 71 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 MB MB MB MB NCBank NCBank NCBank NCBank NCBank NCBank NCBank NCBank NCBank VIB VIB VIB VIB VIB VIB VIB VIB VIB SHB SHB SHB SHB SHB 16,56% 16,60% 19,16% 21,88% 4,58% 23,49% 22,78% 24,08% 26,66% 11,10% 6,27% 6,34% 3,23% 3,99% 8,34% 25,14% 25,96% 32,71% 20,38% 34,39% 31,21% 18,87% 34,37% 36,06% 26,26% 23,55% 22,12% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 8,99% 13,65% 14,03% 23,71% 49,74% 32,99% 39,24% 22,80% 9,40% 3,13% 25,34% 21,98% 10,59% 10,70% 13,44% 8,67% 11,18% 15,38% 24,11% 44,18% 22,88% 15,44% 16,96% 35,77% 20,78% 11,92% 17,00% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 1,33% 1,16% 1,09% 0,90% 6,07% 2,52% 2,15% 1,48% 1,53% 1,67% 1,93% 1,51% 3,00% 2,82% 2,51% 2,07% 2,58% 2,64% 2,52% 1,96% 1,74% 2,32% 4,06% 2,02% 1,72% 1,87% 2,33% 19,41% 21,79% 19,13% 23,49% 0,58% 0,25% 0,20% 0,34% 0,68% 1,12% 1,14% 0,03% 0,03% 0,61% 6,34% 6,09% 6,47% 12,83% 22,55% 27,11% 29,57% 30,33% 8,56% 7,59% 7,32% 7,46% 11,02% 14,56 14,61 14,69 14,78 13,46 13,57 13,68 13,84 13,86 13,86 13,91 13,95 13,87 13,89 13,91 13,93 14,02 14,09 14,14 14,27 14,39 14,49 14,16 14,23 14,31 14,37 14,46 1,83% 2,09% 1,90% 2,40% 0,07% 0,02% 0,02% 0,02% 0,03% 0,05% 0,06% 0,57% 0,45% 0,07% 0,66% 0,63% 0,59% 0,99% 1,67% 2,02% 2,16% 2,31% 0,65% 0,51% 0,43% 0,42% 0,59% 59,25% 60,84% 60,26% 59,88% 46,35% 45,17% 42,36% 36,74% 44,70% 49,26% 47,16% 44,99% 56,40% 45,84% 47,33% 56,67% 57,58% 64,85% 69,08% 70,02% 69,28% 65,11% 53,27% 61,58% 64,20% 69,41% 69,33% 4,56% 4,90% 4,75% 5,09% 2,95% 2,28% 2,24% 1,98% 1,91% 1,64% 1,82% 2,14% 2,03% 3,45% 3,25% 2,99% 2,86% 3,12% 3,79% 3,94% 4,05% 4,38% 1,83% 1,96% 2,22% 2,10% 2,04% 72 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 SHB SHB SHB SHB SGB SGB SGB SGB SGB SGB SGB SGB SGB Sacombank Sacombank Sacombank Sacombank Sacombank Sacombank Sacombank Sacombank Sacombank TPBank TPBank TPBank TPBank TPBank 9,43% 22,20% 15,26% 18,58% 1,76% 5,27% 3,38% 7,94% 12,54% 3,08% 6,48% 6,12% 6,83% 14,77% 15,78% 45,23% 6,96% 12,11% 15,11% 15,36% 14,94% 14,01% 96,05% 66,35% 42,35% 65,16% 35,97% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 15,56% 15,10% 17,11% 7,78% 3,36% 9,63% 10,96% 7,82% 4,80% 1,15% 6,74% 16,31% 0,67% 22,51% 23,86% 60,06% 11,75% 9,67% 9,23% 14,73% 6,77% 0,14% 54,60% 50,88% 82,70% 39,43% 27,63% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 2,40% 1,91% 1,83% 1,69% 2,24% 2,08% 1,88% 2,63% 2,98% 2,20% 1,94% 1,44% 1,97% 1,46% 1,19% 5,80% 6,91% 4,67% 2,13% 1,94% 1,70% 1,50% 2,33% 1,22% 0,81% 0,75% 1,10% 10,78% 13,88% 12,26% 16,81% 4,91% 5,18% 1,25% 4,04% 1,58% 1,22% 4,13% 2,70% 3,35% 14,49% 12,56% 3,23% 0,40% 5,20% 7,48% 9,56% 9,63% 10,79% 10,87% 13,50% 12,44% 10,79% 15,59% 14,51 14,56 14,62 14,70 13,17 13,20 13,25 13,28 13,33 13,31 13,36 13,38 13,39 14,21 14,28 14,47 14,52 14,57 14,61 14,66 14,69 14,72 13,51 13,71 13,88 14,03 14,09 0,55% 0,70% 0,67% 1,09% 1,17% 1,19% 0,26% 0,76% 0,27% 0,20% 0,67% 0,42% 0,51% 1,42% 1,26% 0,27% 0,03% 0,34% 0,46% 0,57% 0,57% 0,67% 1,62% 1,28% 0,88% 0,62% 0,84% 67,12% 72,60% 74,06% 71,54% 72,66% 70,99% 65,42% 65,80% 66,16% 67,10% 63,81% 64,52% 67,06% 68,51% 67,45% 63,66% 59,89% 60,51% 63,20% 65,27% 69,09% 74,44% 37,17% 38,54% 37,05% 43,87% 51,10% 2,00% 2,49% 2,79% 3,68% 5,20% 4,97% 4,15% 3,80% 3,56% 3,45% 3,68% 2,72% 2,60% 4,91% 4,33% 3,33% 2,00% 1,81% 2,34% 2,47% 2,74% 2,60% 2,70% 2,45% 2,32% 2,45% 2,94% 73 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2017 TPBank TPBank TPBank TPBank VietABank VietABank VietABank VietABank VietABank VietABank VietABank VietABank VietABank VPBank VPBank VPBank VPBank VPBank VPBank VPBank VPBank VPBank PGBank PGBank PGBank PGBank PGBank 21,70% 23,91% 25,46% 17,70% 11,62% 9,96% 28,10% 50,07% 12,53% 10,78% 12,42% 13,50% 12,57% 42,19% 49,37% 49,03% 23,86% 26,26% 21,51% 15,87% 13,08% 22,17% 0,58% 4,62% 9,48% 10,40% 22,17% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 8,31% 21,41% 25,38% 20,41% 25,50% 5,09% 23,56% 31,71% 6,87% 20,24% 14,65% 24,97% 14,20% 40,88% 29,23% 20,23% 5,69% 7,89% 27,93% 25,23% 9,10% 3,60% 12,40% 29,89% -6,33% 8,49% 25,03% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 1,12% 1,29% 1,18% 0,82% 2,88% 2,33% 2,26% 2,14% 2,68% 2,48% 2,27% 2,30% 1,89% 2,81% 2,54% 2,69% 2,91% 3,39% 3,50% 3,42% 3,41% 4,57% 2,98% 2,48% 2,75% 2,47% 3,34% 20,87% 26,11% 23,54% 22,60% 1,69% 1,31% 2,17% 2,51% 2,43% 2,84% 4,78% 6,53% 10,81% 14,10% 15,01% 21,42% 25,75% 27,48% 22,83% 21,47% 21,92% 16,51% 1,19% 4,00% 1,22% 3,57% 1,83% 14,13 14,22 14,31 14,47 13,43 13,55 13,62 13,79 13,81 13,85 13,88 13,94 14,00 14,08 14,21 14,29 14,36 14,44 14,51 14,58 14,62 14,74 13,40 13,41 13,39 13,39 13,47 1,39% 2,06% 1,89% 1,93% 0,23% 0,15% 0,21% 0,19% 0,16% 0,17% 0,28% 0,41% 0,70% 0,91% 0,88% 1,34% 1,86% 2,54% 2,45% 2,36% 2,62% 2,38% 0,17% 0,52% 0,16% 0,50% 0,24% 56,68% 58,16% 58,16% 48,23% 53,23% 44,46% 48,40% 49,48% 53,12% 53,18% 55,76% 55,91% 53,90% 43,27% 48,01% 60,25% 63,24% 65,77% 68,66% 68,18% 69,40% 64,90% 55,74% 56,27% 64,35% 70,63% 73,11% 3,69% 4,12% 4,48% 4,32% 1,82% 1,52% 3,31% 1,83% 2,01% 1,77% 1,49% 1,76% 1,86% 4,47% 4,42% 6,36% 7,70% 8,72% 8,80% 9,43% 8,72% 7,70% 2,56% 2,72% 2,74% 2,96% 3,05% 74 2018 2019 2020 2021 2013 2014 2015 2016 2017 2018 2019 2020 2021 PGBank PGBank PGBank PGBank EximBank EximBank EximBank EximBank EximBank EximBank EximBank EximBank EximBank 2,94% 7,46% 8,35% 7,10% 11,25% 4,55% 2,74% 2,51% 16,61% 2,68% 8,85% 10,03% 13,80% 7,20% 7,15% 2,94% 2,59% 5,55% 6,42% 6,99% 6,69% 6,94% 7,20% 7,15% 2,94% 2,59% 2,04% 8,75% 13,19% 3,33% 12,79% 27,56% 3,98% 3,98% 14,84% 0,98% 17,34% 3,85% 2,58% 3,54% 2,80% 3,22% 1,83% 6,59% 4,08% 0,63% 2,67% 3,52% 3,54% 2,80% 3,22% 1,83% 3,06% 3,16% 2,44% 2,52% 1,98% 2,46% 1,86% 2,95% 2,27% 1,85% 1,71% 2,52% 1,96% 3,50% 2,00% 4,41% 6,37% 4,32% 2,45% 0,30% 2,32% 5,94% 4,53% 5,65% 6,57% 5,58% 13,48 13,50 13,56 13,61 14,23 14,20 14,10 14,11 14,17 14,18 14,22 14,21 14,22 0,43% 0,24% 0,50% 0,67% 0,39% 0,21% 0,03% 0,24% 0,59% 0,44% 0,54% 0,65% 0,59% 73,75% 75,05% 71,02% 67,86% 49,08% 54,42% 67,89% 67,46% 67,83% 68,16% 67,60% 62,81% 69,15% 3,16% 2,95% 2,81% 2,00% 1,80% 1,76% 2,57% 2,64% 2,06% 2,26% 2,12% 2,12% 2,26% 75 PHỤ LỤC K T QUẢ NGHI N C U T M H NH NGHI N C U THEO D xtset BANK YEAR panel variable: time variable: delta: THỐNG K M STATA LIỆU BẢNG (PANEL DATA) BANK (unbalanced) YEAR, 2013 to 2021 unit TẢ sum LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM Variable Obs Mean LRG GDP DEP INF NPL 252 252 252 252 252 1975966 0583 1822218 0320889 0217382 ROE SIZE ROA DEPTA NIM 252 252 252 252 252 0977735 14.12303 0081194 580673 0297865 Std Dev Min Max 1387636 0171001 14453 0154532 0120886 -.1422841 0259 -.0632657 0063 0046669 9605347 072 9608916 0659 0763053 0767113 4745896 0068813 1120379 0139771 0002829 13.16687 2253 -.0198518 3033156 15.24593 0365264 8006 0942614 PHÂN TÍCH TƯ NG QUAN corr GDP DEP INF NPL ROE SIZE ROA DEPTA NIM LRG (obs=252) GDP DEP INF NPL ROE SIZE ROA DEPTA NIM LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM LRG 1.0000 0.0808 0.0341 0.0183 -0.2132 -0.1771 -0.2574 -0.0921 -0.0464 0.1489 1.0000 0.2512 0.1187 -0.0432 -0.1430 -0.0448 -0.2637 -0.0887 0.4721 1.0000 0.2339 -0.1008 -0.1481 -0.0497 -0.2064 -0.0208 -0.0149 1.0000 -0.4044 -0.3057 -0.3113 -0.3563 -0.0701 -0.1688 1.0000 0.6091 0.8830 0.3565 0.5697 0.1662 1.0000 0.4250 0.3538 0.1538 -0.0321 1.0000 0.2505 0.6990 0.1287 1.0000 0.2683 -0.1252 1.0000 0.1280 1.0000 76 KI M Đ NH ĐA CỘNG TUY N vif M Variable VIF 1/VIF ROE ROA NIM SIZE DEPTA NPL DEP GDP INF 7.13 7.08 2.43 1.92 1.45 1.43 1.16 1.15 1.13 0.140302 0.141147 0.411304 0.521778 0.691742 0.699700 0.861734 0.866223 0.883253 Mean VIF 2.76 H NH HỒI QUY POOLED OLS Source SS df MS Model Residual 1.71085179 3.12223768 242 190094644 012901809 Total 4.83308948 251 019255337 LRG Coef GDP DEP INF NPL ROE SIZE ROA DEPTA NIM _cons 8226698 4622208 -.9989993 -2.523259 5989368 -.028573 -5.000956 -.2052582 2.004643 5973749 Std Err .4504792 0534372 4936589 7090141 2495149 0209135 2.773193 0769399 7998145 293974 t 1.83 8.65 -2.02 -3.56 2.40 -1.37 -1.80 -2.67 2.51 2.03 Number of obs F( 9, 242) Prob > F R-squared Adj R-squared Root MSE P>|t| 0.069 0.000 0.044 0.000 0.017 0.173 0.073 0.008 0.013 0.043 = = = = = = 252 14.73 0.0000 0.3540 0.3300 11359 [95% Conf Interval] -.064691 3569594 -1.971416 -3.919885 1074385 -.0697688 -10.46363 -.3568155 4291566 0183004 1.710031 5674823 -.0265824 -1.126632 1.090435 0126228 4617222 -.0537008 3.58013 1.176449 77 M H NH FEM xtreg LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM,fe Fixed-effects (within) regression Group variable: BANK Number of obs Number of groups = = 252 28 R-sq: Obs per group: = avg = max = 9.0 within = 0.2524 between = 0.0066 overall = 0.0628 corr(u_i, Xb) F(9,215) Prob > F = -0.6159 LRG Coef GDP DEP INF NPL ROE SIZE ROA DEPTA NIM _cons 1868688 3241664 -1.126796 -2.271666 023416 -.2216568 9183116 2358793 -.9079443 3.223967 4732645 0587487 50712 8257926 2978708 0689969 3.266044 1295139 1.128794 9735333 sigma_u sigma_e rho 12074425 10412157 57352088 (fraction of variance due to u_i) F test that all u_i=0: M Std Err t = = P>|t| 0.39 5.52 -2.22 -2.75 0.08 -3.21 0.28 1.82 -0.80 3.31 F(27, 215) = 0.693 0.000 0.027 0.006 0.937 0.002 0.779 0.070 0.422 0.001 [95% Conf Interval] -.7459634 2083692 -2.126359 -3.899352 -.5637049 -.3576538 -5.519255 -.0194003 -3.132864 1.305075 2.70 xtreg LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM,re Random-effects GLS regression Group variable: BANK Number of obs Number of groups = = 252 28 R-sq: Obs per group: = avg = max = 9.0 corr(u_i, X) Wald chi2(9) Prob > chi2 = (assumed) Std Err z LRG Coef GDP DEP INF NPL ROE SIZE ROA DEPTA NIM _cons 8348487 4395213 -.9424809 -2.477242 4462706 -.0290613 -3.747365 -.1599524 1.747272 5909904 4420443 0540695 4841784 7372546 2589068 0240215 2.885103 0848997 849749 3377953 sigma_u sigma_e rho 02568965 10412157 05738137 (fraction of variance due to u_i) 1.89 8.13 -1.95 -3.36 1.72 -1.21 -1.30 -1.88 2.06 1.75 P>|z| 0.059 0.000 0.052 0.001 0.085 0.226 0.194 0.060 0.040 0.080 1.119701 4399636 -.1272323 -.6439803 610537 -.0856599 7.355878 4911588 1.316976 5.142859 Prob > F = 0.0000 H NH REM within = 0.1865 between = 0.7720 overall = 0.3523 8.07 0.0000 = = 105.88 0.0000 [95% Conf Interval] -.0315421 3335471 -1.891453 -3.922234 -.0611774 -.0761427 -9.402062 -.3263526 0817943 -.0710762 1.70124 5454955 0064913 -1.032249 9537185 01802 1.907332 0064479 3.412749 1.253057 78 KI M Đ NH HAUSMAN hausman fe re Coefficients (b) (B) fe re GDP DEP INF NPL ROE SIZE ROA DEPTA NIM 1868688 3241664 -1.126796 -2.271666 023416 -.2216568 9183116 2358793 -.9079443 (b-B) Difference 8348487 4395213 -.9424809 -2.477242 4462706 -.0290613 -3.747365 -.1599524 1.747272 sqrt(diag(V_b-V_B)) S.E -.64798 -.1153549 -.184315 2055755 -.4228545 -.1925955 4.665676 3958316 -2.655216 1690447 0229762 1508046 3720068 1472898 0646803 1.530761 0978054 7430361 b = consistent under Ho and Ha; obtained from xtreg B = inconsistent under Ha, efficient under Ho; obtained from xtreg Test: Ho: difference in coefficients not systematic chi2(9) = (b-B)'[(V_b-V_B)^(-1)](b-B) = 37.53 Prob>chi2 = 0.0000 (V_b-V_B is not positive definite) KI M Đ NH T TƯ NG QUAN xtserial LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM Wooldridge test for autocorrelation in panel data H0: no first-order autocorrelation F( 1, 27) = 0.817 Prob > F = 0.3740 KI M Đ NH PHƯ NG SAI SAI SỐ THAY Đ I Breusch and Pagan Lagrangian multiplier test for random effects LRG[BANK,t] = Xb + u[BANK] + e[BANK,t] Estimated results: Var LRG e u Test: sd = sqrt(Var) 0192553 0108413 00066 1387636 1041216 0256896 Var(u) = chibar2(01) = Prob > chibar2 = 2.34 0.0632 79 HỒI QUY GLS xtgls LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM Cross-sectional time-series FGLS regression Coefficients: Panels: Correlation: generalized least squares homoskedastic no autocorrelation Estimated covariances = Estimated autocorrelations = Estimated coefficients = Log likelihood = LRG Coef GDP DEP INF NPL ROE SIZE ROA DEPTA NIM _cons 8226698 4622208 -.9989993 -2.523259 5989368 -.028573 -5.000956 -.2052582 2.004643 5973749 10 Number of obs Number of groups Time periods Wald chi2(9) Prob > chi2 195.6783 Std Err .4414507 0523662 483765 694804 2445141 0204944 2.717612 0753978 7837845 2880821 z 1.86 8.83 -2.07 -3.63 2.45 -1.39 -1.84 -2.72 2.56 2.07 P>|z| 0.062 0.000 0.039 0.000 0.014 0.163 0.066 0.006 0.011 0.038 = = = = = 252 28 138.09 0.0000 [95% Conf Interval] -.0425576 3595849 -1.947161 -3.885049 1196979 -.0687413 -10.32738 -.3530352 4684539 0327443 1.687897 5648568 -.0508374 -1.161468 1.078176 0115952 325467 -.0574811 3.540833 1.162006 80 T NG H P M H NH esttab pool fe re gls,r2 star (* 0.1 ** 0.05 ** 0.01) brackets nogap (1) LRG GDP DEP INF NPL ROE SIZE ROA DEPTA NIM _cons N R-sq (2) LRG 0.823* [1.83] 0.462** [8.65] -0.999** [-2.02] -2.523** [-3.56] 0.599** [2.40] -0.0286 [-1.37] -5.001* [-1.80] -0.205** [-2.67] 2.005** [2.51] 0.597** [2.03] 0.187 [0.39] 0.324** [5.52] -1.127** [-2.22] -2.272** [-2.75] 0.0234 [0.08] -0.222** [-3.21] 0.918 [0.28] 0.236* [1.82] -0.908 [-0.80] 3.224** [3.31] 252 0.354 252 0.252 t statistics in brackets * p