Herd Behavior and Its Effects on Default in Chinese Microcredit

Table 5

Details of common factor.

		B	S.E.	Wals	df	Sig.	Exp (B)
Step 1	FAC1	−0.096	0.061	0.964	1	0.632	0.952
	FAC2	0.094	0.088	51.086	1	0.000	2.543
	FAC3	0.215	0.072	37.209	1	0.021	1.209
	FAC4	1.203	0.109	241.753	1	0.000	6.071
	FAC5	−0.102	0.057	1.002	1	0.749	0.970
	Constant	—	0.091	233.762	1	0.000	5.437

Note: , , and denote the 10%, 5%, and 1% significant level, respectively.