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

*