Independent variables

Expected Sign

Coeficient/P-Value

(Constant)

0.058

(0.012)

$\frac{1}{{\text{TA}}_{jt-1}}$

(+/−)

5056.089

(0.301)

$\frac{\Delta {\text{GI}}_{jt}}{{\text{TA}}_{jt-1}}-\frac{\Delta {\text{NL}}_{jt}}{{\text{TA}}_{jt-1}}$

(+/−)

−0.203

(0.158)

$\frac{\text{FAT}}{{\text{TA}}_{jt-1}}$

(−)

−1.992

(<0.001)

F statistic

F = 6.339

(0.001)

r²

14.1%

Durbin Watson

2.185

N

120