Date: 05/29/21

Time: 17:04
Sample: 2015 2019

Y X1 X2 X3 Z

 Mean  0.506224  3.155556  0.455556  0.429995  12.31815

 Median  0.412788  3.000000  0.400000  0.439112  12.32250
 Maximum  1.814930  4.000000  3.000000  0.659307  13.59182
 Minimum  0.005547  3.000000  0.100000  0.132640  10.77515
 Std. Dev.  0.368701  0.366529  0.476042  0.164530  0.816817
 Skewness  1.418634  1.900732  4.234978 -0.161657 -0.375759
 Kurtosis  5.650583  4.612782  21.58848  1.782421  2.284451

 Jarque-Bera  28.26690  31.97286  782.3845  2.975683  2.018982

 Probability  0.000001  0.000000  0.000000  0.225860  0.364404

 Sum  22.78008  142.0000  20.50000  19.34977  554.3167

 Sum Sq. Dev.  5.981364  5.911111  9.971111  1.191083  29.35633

 Observations  45  45  45  45  45

KOEFISIEN KORELASI

Y X1 X2 X3
Y  1.000000  0.019713 -0.043408 -0.158250
X1  0.019713  1.000000 -0.180909  0.391084
X2 -0.043408 -0.180909  1.000000  0.088187
X3 -0.158250  0.391084  0.088187  1.000000
MODEL CEM

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:14
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

C 0.398311 0.516774 0.770765 0.4453

X1 0.094532 0.172689 0.547412 0.5871
X2 -0.007190 0.122851 -0.058523 0.9536
X3 -0.435153 0.379838 -1.145627 0.2586

R-squared 0.032985    Mean dependent var 0.506224

Adjusted R-squared -0.037772    S.D. dependent var 0.368701
S.E. of regression 0.375599    Akaike info criterion 0.964100
Sum squared resid 5.784069    Schwarz criterion 1.124692
Log likelihood -17.69224    Hannan-Quinn criter. 1.023967
F-statistic 0.466172    Durbin-Watson stat 1.949014
Prob(F-statistic) 0.707470

MODEL FEM

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:20
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

C -1.307464 1.141114 -1.145778 0.2601

X1 -0.069620 0.224382 -0.310273 0.7583
X2 -0.281059 0.183572 -1.531056 0.1353
X3 5.026609 2.301863 2.183713 0.0362

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.445848    Mean dependent var 0.506224

Adjusted R-squared 0.261131    S.D. dependent var 0.368701
S.E. of regression 0.316926    Akaike info criterion 0.762880
Sum squared resid 3.314583    Schwarz criterion 1.244657
Log likelihood -5.164797    Hannan-Quinn criter. 0.942481
F-statistic 2.413680    Durbin-Watson stat 2.733977
Prob(F-statistic) 0.024924
MODEL REM

Dependent Variable: Y
Method: Panel EGLS (Cross-section random effects)
Date: 05/29/21 Time: 17:23
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45
Swamy and Arora estimator of component variances

Variable Coefficient Std. Error t-Statistic Prob.  

C 0.551197 0.584664 0.942758 0.3513

X1 0.003396 0.189645 0.017907 0.9858
X2 0.005003 0.119332 0.041925 0.9668
X3 -0.134811 0.563414 -0.239275 0.8121

Effects Specification
S.D.   Rho  

Cross-section random 0.225616 0.3363

Idiosyncratic random 0.316926 0.6637

Weighted Statistics

R-squared 0.001385    Mean dependent var 0.269286

Adjusted R-squared -0.071684    S.D. dependent var 0.316837
S.E. of regression 0.327996    Sum squared resid 4.410848
F-statistic 0.018956    Durbin-Watson stat 2.491658
Prob(F-statistic) 0.996394

Unweighted Statistics

R-squared 0.015176    Mean dependent var 0.506224

Sum squared resid 5.890594    Durbin-Watson stat 1.865741

UJI CHOW

Redundant Fixed Effects Tests

Equation: Untitled
Test cross-section fixed effects

Effects Test Statistic   d.f.  Prob. 

Cross-section F 3.073275 (8,33) 0.0106

Cross-section Chi-square 25.054896 8 0.0015

Cross-section fixed effects test equation:

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:26
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

 C 0.398311 0.516774 0.770765 0.4453
X1 0.094532 0.172689 0.547412 0.5871
X2 -0.007190 0.122851 -0.058523 0.9536
X3 -0.435153 0.379838 -1.145627 0.2586

R-squared 0.032985    Mean dependent var 0.506224

Adjusted R-squared -0.037772    S.D. dependent var 0.368701
S.E. of regression 0.375599    Akaike info criterion 0.964100
Sum squared resid 5.784069    Schwarz criterion 1.124692
Log likelihood -17.69224    Hannan-Quinn criter. 1.023967
F-statistic 0.466172    Durbin-Watson stat 1.949014
Prob(F-statistic) 0.707470

UJI HAUSMAN

Correlated Random Effects - Hausman Test

Equation: Untitled
Test cross-section random effects

Chi-Sq.
Test Summary Statistic Chi-Sq. d.f. Prob. 

Cross-section random 5.914411 3 0.1158

Cross-section random effects test comparisons:

Variable Fixed   Random  Var(Diff.)  Prob. 

X1 -0.069620 0.003396 0.014382 0.5426

X2 -0.281059 0.005003 0.019459 0.0403
X3 5.026609 -0.134811 4.981140 0.0207

Cross-section random effects test equation:

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:27
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

C -1.307464 1.141114 -1.145778 0.2601

X1 -0.069620 0.224382 -0.310273 0.7583
X2 -0.281059 0.183572 -1.531056 0.1353
X3 5.026609 2.301863 2.183713 0.0362

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.445848    Mean dependent var 0.506224

Adjusted R-squared 0.261131    S.D. dependent var 0.368701
S.E. of regression 0.316926    Akaike info criterion 0.762880
Sum squared resid 3.314583    Schwarz criterion 1.244657
Log likelihood -5.164797    Hannan-Quinn criter. 0.942481
F-statistic 2.413680    Durbin-Watson stat 2.733977
Prob(F-statistic) 0.024924

UJI LM

Lagrange Multiplier Tests for Random Effects

Null hypotheses: No effects
Alternative hypotheses: Two-sided (Breusch-Pagan) and one-sided
        (all others) alternatives

Test Hypothesis
Cross-section Time Both

Breusch-Pagan  2.015165  1.598972  3.614137

(0.1557) (0.2060) (0.0573)

Honda  1.419565 -1.264505  0.109644

(0.0779) -- (0.4563)

King-Wu  1.419565 -1.264505 -0.212877

(0.0779) -- --

Standardized Honda  2.318257 -1.083695 -2.553779

(0.0102) -- --
Standardized King-Wu  2.318257 -1.083695 -2.796659
(0.0102) -- --
Gourierioux, et al.* -- --  2.015165
(>= 0.10)

*Mixed chi-square asymptotic critical values:

1% 7.289
5% 4.321
10% 2.952

MODERASI X1

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:37
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

C -0.321824 15.58799 -0.020646 0.9837

X1 4.432703 3.328019 1.331934 0.1920
Z 0.098561 1.286214 0.076629 0.9394
X1*Z -0.369818 0.276750 -1.336289 0.1906

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.424668    Mean dependent var 0.506224

Adjusted R-squared 0.232890    S.D. dependent var 0.368701
S.E. of regression 0.322926    Akaike info criterion 0.800389
Sum squared resid 3.441272    Schwarz criterion 1.282166
Log likelihood -6.008757    Hannan-Quinn criter. 0.979991
F-statistic 2.214377    Durbin-Watson stat 2.858370
Prob(F-statistic) 0.038416

MODERASI X2

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:39
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

C 16.42537 12.20302 1.346009 0.1875

X2 3.253721 9.107637 0.357252 0.7232
Z -1.288800 0.988659 -1.303583 0.2014
X2*Z -0.270120 0.743147 -0.363481 0.7186

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.398906    Mean dependent var 0.506224

Adjusted R-squared 0.198542    S.D. dependent var 0.368701
S.E. of regression 0.330076    Akaike info criterion 0.844192
Sum squared resid 3.595360    Schwarz criterion 1.325969
Log likelihood -6.994319    Hannan-Quinn criter. 1.023793
F-statistic 1.990903    Durbin-Watson stat 2.847239
Prob(F-statistic) 0.062464

MODERASI X3

Dependent Variable: Y
Method: Panel Least Squares
Date: 05/29/21 Time: 17:40
Sample: 2015 2019
Periods included: 5
Cross-sections included: 9
Total panel (balanced) observations: 45

Variable Coefficient Std. Error t-Statistic Prob.  

C 50.81219 16.97129 2.994009 0.0052

X3 -84.11659 26.33653 -3.193913 0.0031
Z -4.044342 1.337807 -3.023114 0.0048
X3*Z 6.813070 2.083064 3.270696 0.0025

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.557499    Mean dependent var 0.506224
Adjusted R-squared 0.409998    S.D. dependent var 0.368701
S.E. of regression 0.283205    Akaike info criterion 0.537885
Sum squared resid 2.646761    Schwarz criterion 1.019661
Log likelihood -0.102406    Hannan-Quinn criter. 0.717486
F-statistic 3.779641    Durbin-Watson stat 2.675005
Prob(F-statistic) 0.001463