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