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Table 5 MC parameters estimation with time-variant inefficient model

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

lnTC

Coef.

Std. Err.

Z

P > z

[95% Conf.

Interval]

Log of output (lny)

0.461735

0.106461

4.34

0.000

0.253077

0.670394

Cost of labor(lnw1)

0.568387

0.15546

3.66

0.000

0.263691

0.873083

Cost ofphysical(lnw2)

0.772551

0.173515

4.45

0.000

0.432469

1.112634

Cost of fund(lnw3)

−0.34094

0.116867

−2.92

0.004

−0.56999

− 0.11188

(lny)^2

0.028881

0.006913

4.18

0.000

0.015332

0.04243

(lnw1)^2

0.076606

0.020712

3.7

0.000

0.03601

0.117201

(lnw2)^2

0.042823

0.021275

2.01

0.044

0.001126

0.084521

(lnw3w)^2

0.018547

0.012344

1.5

0.133

−0.00565

0.042741

lnylnw1

−0.01572

0.009599

−1.64

0.102

−0.03453

0.003094

lnylnw2

−0.01727

0.009009

−1.92

0.055

−0.03493

0.00039

lnylnw3

0.032986

0.008623

3.83

0.000

0.016085

0.049888

lnw1lnw2

0.009218

0.017187

0.54

0.592

−0.02447

0.042905

lnw1lnw3

−0.0818

0.029779

−2.75

0.006

−0.14016

−0.02343

lnw2lnw3

0.072577

0.03417

2.12

0.034

0.005604

0.13955

_cons

4.822352

0.885394

5.45

0.000

3.087012

6.557691

μ

0.722708

0.272279

2.65

0.008

0.189051

1.256364

Η

−0.01641

0.018225

−0.9

0.368

−0.05213

0.019306

ln lnσ2

−2.28997

0.080187

−28.56

0.000

−2.44714

− 2.13281

ln{γ/(1-γ)}

−0.31352

0.208129

−1.51

0.132

−0.72145

0.094402

σ2

0.101269

0.008121

  

0.086541

0.118504

γ

0.422255

0.050774

  

0.327074

0.523583

\( {\sigma}_u^2 \)

0.042762

0.008041

  

0.027002

0.058521

\( {\sigma}_v^2 \)

0.058508

0.0035

  

0.051648

0.065368

Observations

746

746

746

746

746

746