Table 7 Diagnostic tests.

From: Firm value adjustment speed through financial friction in the presence of earnings management and productivity growth: evidence from emerging economies

Countries

Hausman Test

Pesaran Test

Wooldridge

Wald Test

 

Model 1

Model 2

Model 1

Model 2

Model 1

Model 2

Model 1

Model 2

Bangladesh

27.239*

15.132*

4.976**

5.715**

108.708*

40.204

2.8E04**

1.8E + 06**

China

36.052**

129.319**

127.486**

391.118**

1.01

3.602

2.2E06**

1.2E06**

India

24.691

15.808**

32.83**

16.549**

24.744*

1.597

2.8E + 05**

4.2E + 05**

Pakistan

30.129**

4.384

87.419**

49.803**

0.050

1.133

3.0E + 07**

1.2E + 09**

Sri Lanka

30.332**

19.040**

62.007**

49.803**

30.474*

1.484

1.6E05**

9.96E04**

  1. Note. **p < 0.01, *p < 0.05.
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