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 Q | Δ K1 | Δ K2 | Δ L | |||||
|---|---|---|---|---|---|---|---|---|
Intercept | Trend | Intercept | Trend | Intercept | Trend | Intercept | Trend | |
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-ADF | 649.95 (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-PP | 681.77 (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) |