Table 4 Geographic diversification and bank performance: additional control variables test

1–HHI

− 0.005^b (0.002)

− 0.073^b (0.031)

2.671^c (0.758)

0.009^b (0.004)

0.377^c (0.082)

Loan ratio

0.015^c (0.002)

0.038^a (0.020)

0.471 (0.293)

0.032^c (0.002)

0.146^b (0.067)

Asset ratio

−0.014 (0.009)

−0.153 (0.149)

−6.556^b (2.539)

− 0.028^b (0.013)

−4.494^c (0.956)

Capital

0.007^b (0.003)

−0.300^c (0.072)

− 0.648 (0.880)

0.010^a (0.006)

− 0.272^a (0.141)

Asset quality

0.064^b (0.027)

−0.344 (0.857)

5.834 (6.855)

0.030 (0.034)

1.509^c (0.470)

GDP

−0.190 (0.223)

1.630 (4.167)

− 252.737^b (105.728)

− 0.281 (0.417)

−63.497^c (19.166)

Age

0.004^c (0.001)

0.003 (0.002)

−0.590^c (0.048)

− 0.002^c (0.002)

0.054^c (0.006)

Size

0.004 (0.003)

0.057 (0.047)

1.493^a (0.884)

0.014^c (0.005)

1.201^c (0.340)

Constant

−0.003^a (0.002)

0.091^c (0.028)

9.881^c (0.367)

0.025^c (0.002)

−0.411^c (0.064)

N

808

808

808

808

808

R²

0.704

0.580

0.461

0.633

0.971

Year fixed effects

Yes

Yes

Yes

Yes

Yes

Bank fixed effects

Yes

Yes

Yes

Yes

Yes