Dependent

CEC_PEG

CEC_PEG

CEC_GM

CEC_GM

CEC_MPEG

CEC_MPEG

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

Coeff.

t-val

β₀

INTERCPT

0.9439

8.28

***

0.9318

8.16

***

1.0043

8.24

***

0.9905

8.12

***

1.0186

8.20

***

1.0055

8.08

***

β₁

MANDPOST

–0.0161

–2.16

**

–0.0121

–1.33

–0.0202

–2.54

**

–0.0169

–1.74

*

–0.0215

–2.65

*

–0.0197

–1.99

**

β₂

VOLXBRL

0.0180

1.53

0.0193

1.54

0.0169

1.32

β₃

VOLXBRL *MANDPOST

–0.0113

–0.76

–0.0095

–0.59

–0.0051

–0.31

β₄

BETA

0.0214

2.46

**

0.0226

2.55

**

0.0200

2.15

**

0.0216

2.28

**

0.0191

2.01

**

0.0209

2.16

**

β₅

SIZE

–0.0327

–8.40

***

–0.0329

–8.47

***

–0.0337

–8.11

***

–0.0340

–8.19

***

–0.0342

–8.09

***

–0.0345

–8.15

***

β₆

MTB

–0.0123

–5.63

***

–0.0130

–5.79

***

–0.0138

–5.92

***

–0.0147

–6.12

***

–0.0153

–6.46

***

–0.0162

–6.62

***

β₇

RDEBT

0.2756

9.52

***

0.2884

9.57

***

0.2937

9.50

***

0.3082

9.57

***

0.2956

9.38

***

0.3094

9.42

***

β₈

ROA

0.1702

2.10

**

0.1932

2.35

**

0.1595

1.84

*

0.1852

2.11

**

0.2114

2.40

**

0.2353

2.62

***

β₉

PLIST

0.0093

1.65

0.0098

1.74

*

0.0088

1.46

0.0094

1.56

0.0084

1.37

0.0089

1.46

β₁₀

DIND

Included

Included

Included

Included

Included

Included

F

17.50

***

15.61

***

17.81

***

15.90

***

18.14

***

16.14

***

Adj. R²

48%

48%

48%

49%

49%

49%

N

276

276

276

276

276

276

β₁ + β₃

–0.0234

3.69

*

–0.0264

4.13

**

–0.0248

3.51

*