| Model | Unstandardized coefficients | Standard error | Standardized coefficient | t | Sig. |
| Constant | 0.105 | 0.028 |
| 3.791 | 0.000 |
| Retained earnings financing rate | 0.031 | 0.015 | 0.089 | 2.025 | 0.043 |
| Commercial credit financing rate | 0.023 | 0.051 | 0.024 | 0.454 | 0.650 |
| Long-term debt financing rate | −0.388 | 0.111 | −0.166 | −3.512 | 0.000 |
| Stock financing rate | −0.114 | 0.040 | −0.154 | −2.845 | 0.005 |
| Short-term debt financing rate | −0.071 | 0.043 | −0.075 | −1.634 | 0.103 |
| Fiscal financing rate | 0.783 | 0.299 | 0.119 | 2.622 | 0.009 |
| Depreciation financing rate | −0.617 | 0.493 | −0.056 | −1.251 | 0.211 |