p ( y 4 ) = e ( 56.708 × f 1 + 2.73 × f 2 + 2.045 × f 3 16.775 ) 1 + e ( 56.708 × f 1 + 2.73 × f 2 + 2.045 × f 3 16.775 )

Company Number

Actual value

Equity financing rate P (Y4)

Predictive value

Consistence

1

0

0

0

2

1

1

1

3

0

1

1

×

4

0

0

0

5

0

0

0

6

1

1

0

×

7

0

0

0

8

1

1

1

9

0

1

1

×

10

0

0

0

11

0

0

0

12

1

1

0

×