| Predicted Sign | Coefficients | t-stat | |
| Intercept | 37.7989 | 23.0677 | |
| D | −14.8815 | −4.8339 | |
| R | plus | 0.0432 | 2.5959 |
| R*Size | plus | −0.0002 | −0.1056 |
| R*M/B | minus | −0.0004 | −1.2081 |
| R*Lev | minus | −0.0044 | −3.3682 |
| D*R | plus | 0.2367 | 3.1896 |
| D*R*Size | minus | −0.0198 | −2.6173 |
| D*R*M/B | plus | 0.0000 | −0.0125 |
| D*R*Lev | plus | 0.0157 | 1.9275 |
| Size | −2.5520 | −14.9662 | |
| M/B | −0.2965 | −5.8848 | |
| Lev | 0.1356 | 2.8494 | |
| D*Size | 1.2179 | 3.9112 | |
| D*M/B | 0.1963 | 2.6903 | |
| D*Lev | −0.5644 | −2.1762 | |
| Adjusted R-square | 0.1843 |