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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