G A I N i t = β 0 + β 1 B E L O W Z E R O i t + β 2 A B O V E Z E R O i t + β 3 A S S E T i t + β 4 Δ S A L E S i t + β 5 P P E i t − 1 + ε i t
β 0 t
β 1 t
β 2 t
β 3 t
β 4 t
β 5 t
R 2
F-value
0.327***
−0.189
0.321**
0.272**
0.196*
−0.063
0.319
12.2**