Dependent

CEC_PEG

CEC_GM

CEC_MPEG

Coeff.

t-value

Coeff.

t-value

Coeff.

t-value

β₀

INTERCPT

0.9715

8.82

***

1.0263

8.65

***

1.0485

8.70

***

β₁

MANDPOST08

–0.0460

–4.21

***

–0.0500

–4.26

***

–0.0550

–4.61

***

β₂

MANDPOST09

0.0154

1.50

0.0101

0.91

0.0088

0.78

β₃

VOLXBRL

0.0167

1.49

0.0182

1.50

0.0155

1.27

β₄

VOLXBRL*MANDPOST08

0.0132

0.75

0.0163

0.86

0.0194

1.00

β₅

VOLXBRL*MANDPOST09

–0.0314

–1.80

*

–0.0310

–1.65

–0.0250

–1.31

β₆

BETA

0.0265

3.12

***

0.0256

2.79

***

0.0249

2.67

***

β₇

SIZE

–0.0343

–9.17

***

–0.0352

–8.74

***

–0.0360

–8.79

***

β₈

MTB

–0.0110

–4.88

***

–0.0129

–5.29

***

–0.0141

–5.69

***

β₉

RDEBT

0.2882

10.02

***

0.3080

9.94

***

0.3092

9.82

***

β₁₀

ROA

0.1447

1.77

*

0.1424

1.61

0.1822

2.03

**

β₁₁

PLIST

0.0099

1.84

*

0.0094

1.63

0.0090

1.54