| Independent Variables | Dependent Variables | ||||||||
| Tobin’s q | Tobin’s q | EVAC | EPS | EPS | ROA | ||||
| SERD | 0.126** (2.12) |
|
| −0.007 (−0.22) |
|
| |||
| SERL |
| −0.027 (−1.54) | −0.645* (−1.90) |
| −0.028*** (−3.24) | −0.002** (−2.07) | |||
| IND | 0.000 (0.07) | 0.000 (0.30) | 0.004 (0.15) | −0.002*** (−3.31) | −0.002*** (−2.99) | −0.000** (−2.18) | |||
| AGE | 0.379*** (4.09) | 0.365*** (3.94) | −2.040 (−1.12) | −0.003 (−0.07) | −0.002 (−0.03) | 0.002 (−0.73) | |||
| SIZE | −0.107*** (−3.66) | −0.104*** (−3.52) | 1.343** (2.31) | 0.116*** (7.99) | 0.123*** (8.47) | −0.001 (−0.73) | |||
| Adj R2 | 0.037 | 0.034 | 0.007 | 0.097 | 0.111 | 0.011 | |||
| F-Value | 7.56*** | 7.02*** | 2.12* | 19.29*** | 22.2*** | 2.86** | |||
| Max VIF | 1.034 | 1.049 | 1.049 | 1.034 | 1.049 | 1.049 | |||