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

Table 3 Panel unit root test results: series in first difference

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

 Δ QΔ K1Δ K2Δ L
InterceptTrendInterceptTrendInterceptTrendInterceptTrend
LLC− 59.67 (0.000)− 114.16 (0.000)− 18.3504 (0.000)− 40.208 (0.000)− 39.86 (0.000)− 42.34 (0.000)175.777 (0.000)− 891.38 (0.000)
IPS− 13.43 (0.000)− 7.0138 (0.000)− 11.04 (0.000)− 8.12 (0.000)− 13.65 (0.000)− 3.03 (0.001)− 47.0599 (0.000)− 3610.1 (0.000)
Fisher-ADF649.95 (0.000)564.90 (0.000)644.02 (0.000)609.17 (0.000)779.11 (0.000)521.12 (0.000)714.519 (0.000)499.755 (0.000)
Fisher-PP681.77 (0.000)880.90 (0.000)732.76 (0.000)855.04 (0.000)919.70 (0.000)890.87 (0.000)627.780 (0.000)671.58 (0.000)
  1. The statistics of the panel unit root tests. The values in brackets are the corresponding p values