Dependent

CEC_PEG

CEC_GM

CEC_MPEG

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

β₀

INTERCPT

0.9640

6.84

***

0.9635

6.79

***

0.9893

6.59

***

0.9900

6.55

***

0.9799

6.51

***

0.9826

6.49

***

β₁

MANDPOST

–0.0241

–2.57

**

–0.0265

–1.96

*

–0.0289

–2.89

***

–0.0319

–2.21

**

–0.0312

–3.11

***

–0.0385

–2.67

***

β₂

VOLXBRL

–0.0007

–0.05

–0.0026

–0.17

–0.0078

–0.51

β₃

VOLXBRL *MANDPOST

0.0043

0.24

0.0055

0.29

0.0135

0.71

β₄

BETA

0.0074

0.65

0.0084

0.69

0.0067

0.55

0.0075

0.58

0.0080

0.66

0.0096

0.75

β₅

SIZE

–0.0332

–6.88

***

–0.0332

–6.83

***

–0.0331

–6.44

***

–0.0331

–6.39

***

–0.0328

–6.37

***

–0.0327

–6.31

***

β₆

MTB

–0.0127

–4.90

***

–0.0128

–4.72

***

–0.0140

–5.04

***

–0.0139

–4.82

***

–0.0155

–5.58

***

–0.0154

–5.31

***

β₇

RDEBT

0.2856

8.47

***

0.2862

7.78

***

0.2944

8.20

***

0.2931

7.48

***

0.2981

8.28

***

0.2934

7.48

***

β₈

ROA

0.2003

2.32

**

0.1996

2.25

**

0.2119

2.30

**

0.2088

2.21

**

0.2604

2.82

***

0.2509

2.65

***

β₉

PLIST

0.0094

1.32

0.0094

1.31

0.0103

1.35

0.0103

1.34

0.0098

1.28

0.0097

1.27

β₁₀

DIND

Included

Included

Included

Included

Included

Included

F

15.15

***

13.24

***

14.89

***

13.01

***

15.97

***

14.01

***

Adj. R²

50%

49%

49%

49%

51%

51%

N

216

216

216

216

216

216

β₁ + β₃

–0.0222

3.16

*

–0.0264

3.94

**

–0.0250

3.52

*