Using S.T. Leverage

ROA

ROS

Market Cap.

Variable

Fixed Effect

Random Effect

Hausman Test

Fixed Effect

Random Effect

Hausman Test

Fixed Effect

Random Effect

Hausman Test

C

Prob

C

Prob

C

Prob

C

Prob

C

Prob

C

Prob

Constant

−0.31

0.0001

−0.308

0.0001

0.999

−2.718

0

−2.689

0

0.999

12.72

0

12.699

0

0.634

Firm Size

0.029

0

0.0289

0

0.1735

0

0.172

0

0.303

0

0.3035

0

S.T.D

−0.4

0

−0.406

0

−0.765

0.0005

−0.778

0.0004

−0.463

0.083

−0.447

0.0937

Industry

0.099

0.0043

0.0989

0.0045

0.276

0.2815

0.273

0.286

−0.074

0.814

−0.073

0.816

Average VD

−0.35

0.0007

−0.35

0.0007

−1.366

0.0724

−1.356

0.0744

2.084

0.026

2.0831

0.0256