Explanatory Variable

Option: I

Option: II

Option: III

Option: IV

Option: V

β

T-Statistics

β

T-Statistics

β

T-Statistics

β

T-Statistics

β

T-Statistics

Constant

−6.663***

−4.644

−6.797***

−4.710

−6.721***

−4.555

−6.183***

−4.284

−15.228***

−3.419

DCPS

0.052***

8.735

0.045***

7.505

0.045***

7.487

DCPSB

0.057***

8.734

DCPSF

0.013*

1.796

EASE

0.109***

4.872

0.112***

5.027

0.111***

4.952

0.096***

4.373

0.252***

4.493

LNDRAT

0.018

0.769

0.010

0.435

0.011

0.456

0.014

0.598

0.009

0.141

STRTCST

0.004

0.630

0.002

0.214

0.002

0.257

0.001

0.186

−0.011

−0.327

FDIG

0.118***

4.809

0.117***

4.753

0.096***

3.906

0.155

1.363

TIMERQ

−0.0030

−0.255

−0.003

−0.255

−0.011

−0.507

Adjusted R²

0.4448

0.4771

0.4757

0.499

0.3984

F-statistic

72.1074

65.4100

54.3727

59.9124

12.8096

Akaike Info Criterion

5.2964

5.2427

5.2482

5.1994

5.2242

Schwarz Criterion

5.3509

5.3083

5.3247

5.2758

5.3981

H-Q Criterion

5.3181

5.2688

5.2786

5.2298

5.2947

D-W Statistic

0.0828

0.1595

0.1588

0.1417

0.0621