Descriptive Statistics

Y X1 X2 X3 X4 X5
 Mean  1.299433  3.027472 -0.191618  0.412152  0.573431  10.48480
 Median  0.733849  1.069211 -0.207982  0.333333  0.600000  1.062971
 Maximum  13.48828  100.6977  2.565472  1.000000  1.000000  3010.467
 Minimum  0.149458 -1.220419 -1.041449  0.200000  0.090909  0.118633
 Std. Dev.  1.692269  8.505891  0.279105  0.119589  0.210345  145.6979
 Skewness  3.851943  7.192324  2.547231  1.704044  0.166526  18.79458
 Kurtosis  19.94799  64.45959  23.36616  7.464880  2.460457  373.2908

 Jarque-Bera  7162.742  82340.13  9108.503  652.0380  8.308624  2862916.

 Probability  0.000000  0.000000  0.000000  0.000000  0.015697  0.000000

 Sum  644.5187  1501.626 -95.04250  204.4274  284.4219  5200.459

 Sum Sq. Dev.  1417.569  35813.34  38.56027  7.079242  21.90124  10507796

 Observations  496  496  496  496  496  496

FEM
Dependent Variable: Y
Method: Panel Least Squares
Date: 01/17/21 Time: 21:27
Sample: 2015 2019
Periods included: 5
Cross-sections included: 102
Total panel (unbalanced) observations: 496

Variable Coefficient Std. Error t-Statistic Prob.  

C 3.297015 1.458344 2.260793 0.0243

X1 0.003745 0.000720 5.204008 0.0000
X2 8.047329 3.094246 2.600740 0.0097
X3 -6.482885 4.799894 -1.350631 0.1776
X4 3.256432 2.811165 1.158393 0.2474
X5 1.35E-07 8.87E-07 0.151924 0.8793

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.860243    Mean dependent var 4.546528

Adjusted R-squared 0.822160    S.D. dependent var 16.47291
S.E. of regression 6.946794    Akaike info criterion 6.902892
Sum squared resid 18772.34    Schwarz criterion 7.810359
Log likelihood -1604.917    Hannan-Quinn criter. 7.259103
F-statistic 22.58876    Durbin-Watson stat 1.808198
Prob(F-statistic) 0.000000
REM
Dependent Variable: Y
Method: Panel EGLS (Cross-section random effects)
Date: 01/17/21 Time: 21:29
Sample: 2015 2019
Periods included: 5
Cross-sections included: 102
Total panel (unbalanced) observations: 496
Swamy and Arora estimator of component variances

Variable Coefficient Std. Error t-Statistic Prob.  

C 1.944458 1.584678 1.227036 0.2204

X1 0.005586 0.000686 8.141540 0.0000
X2 2.542666 1.579945 1.609338 0.1082
X3 1.866104 4.293044 0.434681 0.6640
X4 3.570674 2.386132 1.496427 0.1352
X5 8.39E-08 8.72E-07 0.096319 0.9233

Effects Specification
S.D.   Rho  

Cross-section random 9.844161 0.6676

Idiosyncratic random 6.946794 0.3324

Weighted Statistics

R-squared 0.113047    Mean dependent var 1.370796

Adjusted R-squared 0.103996    S.D. dependent var 7.900968
S.E. of regression 7.480894    Sum squared resid 27422.25
F-statistic 12.49063    Durbin-Watson stat 1.247991
Prob(F-statistic) 0.000000

Unweighted Statistics

R-squared 0.205230    Mean dependent var 4.546528

Sum squared resid 106754.7    Durbin-Watson stat 0.320573
CEM
Dependent Variable: Y
Method: Panel Least Squares
Date: 01/17/21 Time: 21:29
Sample: 2015 2019
Periods included: 5
Cross-sections included: 102
Total panel (unbalanced) observations: 496

Variable Coefficient Std. Error t-Statistic Prob.  

C -1.994932 1.424209 -1.400729 0.1619

X1 0.013948 0.000995 14.01121 0.0000
X2 2.659481 1.882402 1.412813 0.1583
X3 17.21915 4.934879 3.489274 0.0005
X4 5.195176 2.392844 2.171130 0.0304
X5 -2.97E-07 1.48E-06 -0.201023 0.8408

R-squared 0.334481    Mean dependent var 4.546528

Adjusted R-squared 0.327690    S.D. dependent var 16.47291
S.E. of regression 13.50688    Akaike info criterion 8.056299
Sum squared resid 89393.57    Schwarz criterion 8.107185
Log likelihood -1991.962    Hannan-Quinn criter. 8.076273
F-statistic 49.25346    Durbin-Watson stat 0.573487
Prob(F-statistic) 0.000000

Chow Test
Redundant Fixed Effects Tests
Equation: Untitled
Test cross-section fixed effects

Effects Test Statistic   d.f.  Prob. 

Cross-section F 14.489223 (101,389) 0.0000

Cross-section Chi-square 774.089476 101 0.0000

Cross-section fixed effects test equation:

Dependent Variable: Y
Method: Panel Least Squares
Date: 01/17/21 Time: 21:27
Sample: 2015 2019
Periods included: 5
Cross-sections included: 102
Total panel (unbalanced) observations: 496

Variable Coefficient Std. Error t-Statistic Prob.  

C -1.994932 1.424209 -1.400729 0.1619

X1 0.013948 0.000995 14.01121 0.0000
X2 2.659481 1.882402 1.412813 0.1583
X3 17.21915 4.934879 3.489274 0.0005
X4 5.195176 2.392844 2.171130 0.0304
X5 -2.97E-07 1.48E-06 -0.201023 0.8408

R-squared 0.334481    Mean dependent var 4.546528

Adjusted R-squared 0.327690    S.D. dependent var 16.47291
S.E. of regression 13.50688    Akaike info criterion 8.056299
Sum squared resid 89393.57    Schwarz criterion 8.107185
Log likelihood -1991.962    Hannan-Quinn criter. 8.076273
F-statistic 49.25346    Durbin-Watson stat 0.573487
Prob(F-statistic) 0.000000

nilai Pvalue 0.0000 < 0,05, maka H0 ditolak yang berarti fixed effect model lebih baik
untuk digunakan

Hausman Test
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 78.981792 5 0.0000

Cross-section random effects test comparisons:

Variable Fixed   Random  Var(Diff.)  Prob. 

X1 0.003745 0.005586 0.000000 0.0000

X2 8.047329 2.542666 7.078133 0.0385
X3 -6.482885 1.866104 4.608758 0.0001
X4 3.256432 3.570674 2.209019 0.8326
X5 0.000000 0.000000 0.000000 0.7564

Cross-section random effects test equation:

Dependent Variable: Y
Method: Panel Least Squares
Date: 01/17/21 Time: 21:29
Sample: 2015 2019
Periods included: 5
Cross-sections included: 102
Total panel (unbalanced) observations: 496

Variable Coefficient Std. Error t-Statistic Prob.  

C 3.297015 1.458344 2.260793 0.0243

X1 0.003745 0.000720 5.204008 0.0000
X2 8.047329 3.094246 2.600740 0.0097
X3 -6.482885 4.799894 -1.350631 0.1776
X4 3.256432 2.811165 1.158393 0.2474
X5 1.35E-07 8.87E-07 0.151924 0.8793

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.860243    Mean dependent var 4.546528

Adjusted R-squared 0.822160    S.D. dependent var 16.47291
S.E. of regression 6.946794    Akaike info criterion 6.902892
Sum squared resid 18772.34    Schwarz criterion 7.810359
Log likelihood -1604.917    Hannan-Quinn criter. 7.259103
F-statistic 22.58876    Durbin-Watson stat 1.808198
Prob(F-statistic) 0.000000

p value (0.000) < 0,05 maka metode yang kita pilih adalah fixed effect model
Karena antara Chow Test dan Hausman test menghasilkan hasil yang sama, maka
model yang cocok digunakan dalah fixed effect model

Uji T
Dependent Variable: Y
Method: Panel Least Squares
Date: 01/17/21 Time: 21:27
Sample: 2015 2019
Periods included: 5
Cross-sections included: 102
Total panel (unbalanced) observations: 496

Variable Coefficient Std. Error t-Statistic Prob.  

C 3.297015 1.458344 2.260793 0.0243

X1 0.003745 0.000720 5.204008 0.0000
X2 8.047329 3.094246 2.600740 0.0097
X3 -6.482885 4.799894 -1.350631 0.1776
X4 3.256432 2.811165 1.158393 0.2474
X5 1.35E-07 8.87E-07 0.151924 0.8793

Effects Specification

Cross-section fixed (dummy variables)

R-squared 0.860243    Mean dependent var 4.546528

Adjusted R-squared 0.822160    S.D. dependent var 16.47291
S.E. of regression 6.946794    Akaike info criterion 6.902892
Sum squared resid 18772.34    Schwarz criterion 7.810359
Log likelihood -1604.917    Hannan-Quinn criter. 7.259103
F-statistic 22.58876    Durbin-Watson stat 1.808198
Prob(F-statistic) 0.000000

Kesimpulan:
1. Ada pengaruh positif dan signifikan X1 pada Y
2. Ada pengaruh positif dan signifikan X2 pada Y
3. Tidak ada pengaruh X3 pada Y
4. Tidak ada pengaruh X4 pada Y
5. Tidak ada pengaruh X5 pada Y

Uji F
Cross-section fixed (dummy variables)

R-squared 0.860243    Mean dependent var 4.546528

Adjusted R-squared 0.822160    S.D. dependent var 16.47291
S.E. of regression 6.946794    Akaike info criterion 6.902892
Sum squared resid 18772.34    Schwarz criterion 7.810359
Log likelihood -1604.917    Hannan-Quinn criter. 7.259103
F-statistic 22.58876    Durbin-Watson stat 1.808198
Prob(F-statistic) 0.000000

Kesimpulan:
Variabel independen secara bersama-sama (simultan) berpengaruh terhadap variabel
dependen karena Fhitung (0.000) lebih kecil dari 0.05

Koefisien Determinasi

R Square (r2) sebesar 0.860 berarti bahwa 86.0% variasi dalam Variabel Y dapat
dijelaskan oleh variable independen