Table 5.

Cross-sectional Time-Series Tobit Analysis Results (N = 24,205).

Efficiency	Coefficient		Std. Error
APCD	−0.0419	***	0.0153
Data Availability	0.0132		0.0103
HHI	−0.0469	*	0.026
APCD * HHI	0.0273		0.0346
Data Availability * HHI	0.0495	***	0.0175
CMI	0.0178	***	0.00675
Bed (#)	0.000033	**	0.000013
Urban (#)	0.0256	***	0.00617
Nonprofit (#)	0.0143	***	0.00525
Teaching affiliation (#)	0.0459	***	0.00472
Medicare discharge (%)	−0.0175	***	0.00516
Medicaid discharge (%)	0.0342	***	0.0111
Nonprofit market share (%)	0.0402	***	0.00866
Uninsured (%)	−0.00111	***	0.00033
Lobbying ($ million)	−0.0223	***	0.00629
2012	−0.0142	***	0.00208
2013	−0.0145	***	0.00211
2014	0.0182	***	0.00243
2015	−0.00563	*	0.00309
2016	−0.0701	***	0.00344
2017	−0.00435		0.00342
Constant	0.465	***	0.0169
rho	0.7097284
Log likelihood	19,629.255
Wald ${\chi }_{21}^2$	2357.03	***

*** p < 0.01, ** p < 0.05, * p < 0.1.