Table 4 The estimation results of SFA model.
Coefficient | Std. err. | t | |
---|---|---|---|
\({\beta }_{0}\) | 5.5336*** | 1.3950 | 3.9667 |
\({\beta }_{1}\) | −1.2274*** | 0.3770 | −3.2559 |
\({\beta }_{2}\) | 1.0749** | 0.4593 | 2.3405 |
\({\beta }_{3}\) | 0.3522*** | 0.0541 | 6.5095 |
\({\beta }_{4}\) | 0.4433*** | 0.0743 | 5.9669 |
\({\beta }_{5}\) | −0.7380*** | 0.1197 | −6.1655 |
\({\sigma }^{2}\) | 0.5092*** | 0.0402 | 12.6818 |
γ | 0.7962*** | 0.0310 | 25.6638 |
μ | 1.2735*** | 0.0885 | 14.3927 |
η | 0.0483*** | 0.0032 | 15.0207 |
Log-likelihood | −205.4521*** | ||
One-sided LR test value | 281.0748*** |