Variable

Predicted Sign

Dependent Variable: EXCESS_SFG

Intercept

?

−0.677**

(−1.99)

−0.768**

(−2.24)

−0.620*

(−1.86)

DGSE

+

0.350***

(3.78)

0.114

(0.95)

0.245***

(3.55)

NUMBER_GEO_SEGMENT

−

0.007

(0.40)

DGSE*NUMBER_GEO_SEGMENT

+

0.062**

(2.57)

NEG_HERF_GEO_SALES

−

−0.086

(−0.48)

DGSE*NEG_HERF_GEO_SALES

+

0.362***

(2.84)

FOR_SALES

−

−0.611

(−0.44)

DGSE*FOR_SALES

+

3.017*

(1.84)

NUMBER_PRODUCT_SEGMENT

−

−0.0002

(−0.02)

NEG_HERF_PRODUCT_SALES

−

−0.053

(−0.77)

DIV/TA

+

0.234

(0.81)

0.248

(0.86)

0.234

(0.81)

NI/NS

+

0.001

(0.40)

0.001

(0.59)

0.001

(0.38)

SIZE

−

−0.024***

(−2.84)

−0.018**

(−2.15)

−0.024***

(−2.98)

TOBIN’S_Q

+

0.030***

(4.56)

0.029***

(4.52)

0.029***

(4.45)

INVESTMENT

+

0.132***

(11.06)

0.132***

(11.06)

0.134***

(11.29)