Explaining variables

Coefficient

Standard deviation

T value

Concomitant probability

The proportion of the first largest shareholder

0.0059481

0.0023692

2.45

0.514

Asset-liability ratio

−0.0027357

0.0035417

−0.09

0.008

Net interest rates

0.0424893

0.0035291

1.29

0.007

The percentage of employees with higher education

0.0421682

0.00167255

0.25

0.006

Constant

0.5399437

0.0304542

1.71

0.005