Specifications

1

2

3

4

5

6

Constant

−0.2117

(0.16)

−0.1222

(0.39)

−0.1828

(0.12)

−0.0419

(0.29)

−0.2122

(0.15)

−0.1251

(0.38)

Csales

−0.0170

(0.30)

−0.0177

(0.24)

Cmve

−0.0135

(0.34)

−0.0100

(0.43)

Vsales

−0.0170

(0.10)*

−0.0169

(0.09)*

Vmve

−0.0117

((0.32)

−0.0098

(0.37)

Annual Contract Size

0.0155

(0.33)

0.0204

(0.21)

CRDSCGS

0.0141

(0.28)

CRDSMVE

0.0158

(0.22)

VRDSSales

0.0168

(0.10)*

VRDSMVE

0.0134

(0.24)

R 2

0.0597

0.0494

0.0578

0.0488

0.0495

0.0572