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Table 10 GMM model test

From: Competition and microfinance institutions’ performance: evidence from India

Sargan test

overid. restrictions: chi2(17) = 40.89 Prob > chi2 = 0.001

Hansen test: excluding

Prob > chi2 = 0.302

null H = exogenous

Prob > chi2 = 0.688

Arellano-Bond

Pr > z = 0.000

Hansen test

overid. Restrictions: Prob > chi2 = 0.524