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The Official Journal of the Pan-Pacific Association of Input-Output Studies (PAPAIOS)

Table 2 Panel unit root results: series in level

From: Causal effect of mergers and acquisitions on EU bank productivity

 QK1K2L
InterceptTrendInterceptTrendInterceptTrendInterceptTrend
LLC− 14.8049 (0.998)− 7.7687 (0.9702)− 19.345 (0.9703)12.27 (1.000)− 5.95 (0.9231)− 14.80 (0.9175)− 20.14 (0.9713)6.71 (1.000)
IPS− 2.63342 (0.9742)1.88676 (0.9704)− 5E+11 (0.084)− 1.4419 (0.074)0.18198 (0.5722)1.52 (0.9367)− 35.705 (0.8702)− 2.2E+14 (0.9611)
Fisher-ADF437.081 (0.2664)330.812 (0.2464)405.71 (0.3701)320.834 (0.2686)337.89 (0.1693)287.320 (0.8385)568.34 (0.4513)318.47 (0.4191)
Fisher-PP518.68 (0.999)219.59 (1.000)546.804 (0.9992)238.81 (0.9994)552.56 (0.9847)245.88 (0.9982)746.68 (0.1252)344.36 (0.1149)
  1. The statistics of the panel unit root tests. The values in brackets are the corresponding p values