Variables

Coefficient

t value

P value

I_i,t−1

0.2253***

17.8400

0.0000

Growth_i,t−1

0.0014*

1.9700

0.0660

Lev_i,t−1

−0.0387***

−3.4900

0.0030

Cash_i,t−1

0.0421***

10.5300

0.0000

Size_i,t−1

−0.0151***

−7.6000

0.0000

Ret_i,t−1

0.0072***

12.8100

0.0000

Age_i,t−1

−0.0036***

−5.5900

0.0000

Constant

0.4163***

8.6800

0.0000

Year

Industry

Yes

Adj-R²

0.1569

Observations

12,551