The Adoption of Electronic Banking: Evidence from Liechtenstein 
  
Appendix D Additional regression tables 
  
  
  
Dependent variable Electronic banking adoption 
(1) (2) (3) 
Distance to closest 0.0017*** 0.0019*** 0.001 7*** 
branch (min) (0.0006) (0.0006) (0.0006) 
Age -0.0045*** 
(0.0001) 
Sex 0.0822 
(0.0561) 
Constant 0.481 0.672 0.441 
R-squared 0.000 0.035 0.007 
Observations 31511 31511 31511 
Method OLS OLS OLS 
  
Robust standard errors in parentheses 
* p<0.10, ** p<0.05, *** p<0.01 
Table D1. Regression models 1-3 distance to closest branch (min). 
Notes: The dependent variable in this regression is Electronic banking adoption. Column (1) displays the 
model in which the distance to the closest branch in minutes operates as the sole explanatory variable. 
Column (2) adds the age of the client as an explanatory variable. Column (3) adds the dummy variable 
Sex to the first regression. For each variable we report the raw coefficients from the regression, together 
with robust standard errors in parentheses. To give an indication about the model?s goodness of fit, we 
report the R*. Definitions of the variables are provided in Appendix C. 
Source: Own table, based on the LLB dataset. 
University of St.Gallen 39