Table 5 Second generation panel unit root tests.
Variables | CADF | CIPS | ||
---|---|---|---|---|
I(0) | I(1) | I(0) | I(1) | |
TQ | −3.865*** | −4.517 | −4.407*** | −5.414 |
ROA | −1.059 | −2.433*** | −1.629 | −3.905*** |
SSCM | −2.465 | −3.610*** | −2.832 | −4.479*** |
LBS | −3.194*** | −4.104 | −4.938*** | −5.555 |
BCS | −2.847** | −3.662 | −3.193*** | −4.680 |
CSR | −2.686* | −2.845 | −2.643 | −4.585*** |