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Kiểm định unit root test cho các biến trong mô hình như sau

Tên biến

Loại kiểm định


z/t-value

p-value


Hd


Llc

-5.6913


0.000

Lev


Ht

-5.3742


0.000

Sdebt


Llc

-5.8228


0.000

Ldebt


Llc

-3.9e+2


0.000

Size


Llc

-1.5081


0.065

Tang


Llc

-8.8236


0.000

MTB


Ht

-5.4607


0.000

Sale_growth


Llc

-16.1752


0.000

Stateownership


Ht

-2.8328


0.002

BODownership


Llc

-64.4767


0.000

Orisk


Llc

-3.8571


0.000

Tax_shield


Llc

-2.1692


0.015

Inter_Cap


Llc

-8.8531


0.000

Period


Llc

-4.2184


0.000

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