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Table 2 Unit root test for research variables

From: Economic and non-economic determinants of Iranian pharmaceutical companies’ financial performance: an empirical study

Result

1st difference

Level

Variables

Coefficient

Critical values at 5%

Prob

Coefficient

Critical values at 5%

Prob

ADF Test

 I (0)

−6.48

−2.85

0.0000

TEP

 I (0)

−4.96

− 2.89

0.0001

GDPH

 I (0)

− 4.46

−2.89

0.0005

INFD

 I (1)

−11.54

−2.89

0.0001

−0.24

−2.89

0.9277

HE

 I (0)

   

−3.49

−2.89

0.01

M1

 I (1)

−7.10

−2.89

0.0000

−2.51

− 2.89

0.1157

r

 I (0)

   

−6.11

−2.89

0.0000

EX

 I (1)

−3.79

−2.90

0.0045

−1.48

−2.89

0.5388

vosol

Philips-Perron

 I (0)

6.4841-

2.8951-

0.0000

TEP

 I (0)

5.0343

2.8972-

0.0001

GDPH

 I (0)

2.7177-

2.5853-

0.0753

INFD

 I (0)

6.7554-

2.8959-

0.0000

HE

 I (0)

17.49-

2.8951-

0.0001

M1

 I (1)

2.6446-

2.5826-

0.0883

1.5071-

2.8963-

0.5253

r

 I (0)

   

6.1142-

2.8967-

0.0000

EX

 I (1)

4.6572–0

2.8967-

0.0002

1.4804-

2.8959-

−0.5388

vosol