Table 6. .
Indicator | Full model with all factors | Reduced model with one factor | ||
---|---|---|---|---|
coefficient | t-statistic | coefficient | t-statistic | |
Constant | 2.416 | 2.8 | 1.120 | 19.6 |
RI | –0.009 | –4.5 | –0.007 | –3.5 |
LE | –0.025 | 2.1 | ||
US | 0.006 | 3.0 | ||
Tr | 0.191 | 3.0 | ||
Adjusted R2 | 0.301 | 0.113 | ||
Schwarz information criterion (BIC) | 11.400 | 21.500 |
Source: Calculated by the authors.