Table 4 Cross-sectional dependency argument.
Test | Breusch-Pagan | Pesaran | ||
|---|---|---|---|---|
Variable | Value | Prob. | Value | Prob. |
Management efficiency | 657.303 | 0.000 | 24.201 | 0.000 |
Energy Expenditure | 789.220 | 0.000 | 26.075 | 0.000 |
Number of employees | 508.169 | 0.000 | 19.694 | 0.000 |
Earnings per share | 789.203 | 0.000 | 28.234 | 0.000 |
Technology Expenditure | 454.203 | 0.000 | 23.657 | 0.000 |
Tax payment | 672.102 | 0.000 | 28.521 | 0.000 |
