Variable | Pred. Sign | Dependent Variable: EXCESS_IG | ||
Intercept | ? | −0.553* (−1.71) | −0.658** (−2.02) | −0.484 (−1.52) |
DGSE | + | 0.306*** (3.48) | 0.085 (0.74) | 0.183*** (2.80) |
NUMBER_GEO_SEGMENT | − | 0.012 (0.69) |
|
|
DGSE*NUMBER_GEO_SEGMENT | + | 0.060*** (2.67) |
|
|
NEG_HERF_GEO_SALES | − |
| −0.125 (−0.74) |
|
DGSE*NEG_HERF_GEO_SALES | + |
| 0.249** (2.33) |
|
FOR_SALES | − |
|
| −0.707 (−0.53) |
DGSE*FOR_SALES | + |
|
| 2.410* (1.94) |
NUMBER_PRODUCT_SEGMENT | − | −0.006 (−0.49) |
|
|
NEG_HERF_PRODUCT_SALES | − |
| −0.081 (−1.24) |
|
DIV/TA | + | −0.067 (−0.25) | −0.057 (−0.21) | −0.071 (−0.26) |
NI/NS | + | 0.0001 (0.07) | 0.001 (0.24) | 0.0001 (0.04) |
SIZE | − | −0.007 (−0.89) | −0.002 (−0.31) | −0.008 (−1.09) |
TOBIN’S_Q | + | 0.030*** (4.81) | 0.029*** (4.76) | 0.029*** (4.71) |
INVESTMENT | + | 0.118*** (10.35) | 0.118*** (10.34) | 0.120*** (10.60) |
YEAR FIXED EFFECTS INDUSTRY FIXED EFFECTS |
| YES YES | YES YES | YES YES |
Adjusted R-square |
| 0.136 | 0.138 | 0.136 |
Number of observations |
| 3703 | 3703 | 3703 |