Hausman results

Correlated Random Effects - Hausman Test

Equation: Untitled
Test cross-section random effects

Chi-Sq.
Test Summary Statistic Chi-Sq. d.f. Prob.

Cross-section random 8.562270 9 0.4786

** WARNING: estimated cross-section random effects variance is zero.

Cross-section random effects test comparisons:

Variable Fixed Random Var(Diff.) Prob.

FS -0.003430 -0.001922 0.000002 0.2504

INVP 0.238030 -0.102909 0.087710 0.2496
CR 0.183531 0.184845 0.539841 0.9986
LR -0.153610 -0.032966 0.011057 0.2513
ADGP 0.004408 0.002381 0.000003 0.2495
AQ -26.702454 2.519231 222.080667 0.0499
SIZE -0.000110 -0.000087 0.000000 0.4986
TAX 0.043356 0.028304 0.000075 0.0830
GDP 0.388496 0.475725 0.003331 0.1307

Cross-section random effects test equation:

Dependent Variable: ROA
Method: Panel Least Squares
Date: 04/28/15 Time: 12:25
Sample: 2006 2012
Periods included: 7
Cross-sections included: 27
Total panel (unbalanced) observations: 186

Variable Coefficient Std. Error t-Statistic Prob.

C -0.055463 1.078839 -0.051410 0.9591

FS -0.003430 0.002410 -1.423050 0.1568
INVP 0.238030 0.628661 0.378630 0.7055
CR 0.183531 1.207829 0.151951 0.8794
LR -0.153610 0.237451 -0.646912 0.5187
ADGP 0.004408 0.003084 1.429213 0.1550
AQ -26.70245 15.86126 -1.683502 0.0944
SIZE -0.000110 5.89E-05 -1.867943 0.0637
TAX 0.043356 0.023484 1.846159 0.0668
GDP 0.388496 0.177507 2.188617 0.0302

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.203534 Mean dependent var 0.799077

Adjusted R-squared 0.017692 S.D. dependent var 3.405164
S.E. of regression 3.374907 Akaike info criterion 5.442598
Sum squared resid 1708.500 Schwarz criterion 6.066936
Log likelihood -470.1616 Hannan-Quinn criter. 5.695604
F-statistic 1.095200 Durbin-Watson stat 2.770277
Prob(F-statistic) 0.344688