Research on the Stock Correlation Network Entropy and Its Influencing Factors in the Chinese Interbank Market
Table 5
Grouping test results according to the bank nature.
Variables
FE
Large state-owned banks
National joint-stock banks
Regional banks
HR
HT
HR
HT
HR
HT
(1)
(2)
(3)
(4)
(5)
(6)
C
0.151
0.003
0.141
0.002
0.121
0.002
(11.37)
(8.17)
(7.52)
(5.49)
(5.89)
(4.23)
D
0.672
0.014
0.645
0.013
0.697
0.014
(29.33)
(23.64)
(36.87)
(28.23)
(85.20)
(40.74)
Roa
0.784
0.020
0.523
0.013
0.617
0.015
(5.70)
(6.81)
(3.46)
(3.40)
(22.80)
(11.13)
RV
−0.220
−0.005
−0.155
−0.004
−0.182
−0.005
(−5.01)
(−5.23)
(−7.72)
(−7.61)
(−9.74)
(−10.64)
Size
0.004
0.000
0.006
0.000
0.012
0.000
(0.52)
(0.62)
(2.99)
(3.11)
(16.15)
(15.54)
Age
−0.011
−0.000
−0.001
−0.000
0.006
0.000
(−3.49)
(−3.21)
(−0.61)
(−1.13)
(2.02)
(1.61)
Constant
0.445
0.609
0.494
0.611
0.237
0.604
(3.24)
(20.84)
(11.40)
(58.63)
(5.75)
(42.87)
Observations
600
600
960
960
360
360
R-squared
0.570
0.183
0.781
0.685
0.059
0.008
Note. This table presents results obtained from FE regressions. denotes significance at the 10% level; denotes significance at the 5% level; denotes significance at the 1% level; T-statistics are reported in parentheses under the estimated coefficient and are based on robust standard errors.
