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Table 9 Arellano-Bond test for autocorrelation of order one and two

From: How does depreciations management affect subsequent fiscal performance? The case of the Swiss cantons

  AR(1) AR(2)
  z-stat p value z-stat p value
Balance − 1.730 0.083 0.490 0.626
Revenues 0.530 0.594 1.120 0.263
Expenses 0.140 0.890 0.350 0.728
  1. AR(1) refers to autocorrelation of order one whereas AR(2) denotes autocorrelation of order two. H0: No autocorrelation