Industry | p | AIC | SBC | Adjusted R2 | χ2 (1) | χ2 (4) | F-statistic |
All | 3 | 311.68 | 289.314 | 0.491 | 2.063 | 8.620* | 7.815*** |
4 | 315.603 | 287.645 | 0.536 | 0.232 | 6.743 | 8.970*** | |
HS06 | 2 | 285.674 | 268.899 | 0.45 | 0.028 | 14.889*** | 6.369** |
3 | 288.667 | 266.3 | 0.491 | 0.001 | 7.886* | 8.088*** | |
4 | 290.304 | 262.347 | 0.518 | 1.010 | 3.777 | 6.615*** | |
HS07 | 2 | 273.148 | 256.373 | 0.496 | 1.532 | 6.826 | 15.628*** |
3 | 274.302 | 251.936 | 0.519 | 4.368** | 6.152 | 11.091*** | |
HS08 | 2 | 263.327 | 246.552 | 0.178 | 0.811 | 2.768 | 3.942* |
HS09 | 2 | 200.656 | 183.881 | 0.263 | 0.561 | 9.204* | 5.616*** |
HS10 | 3 | 297.323 | 274.956 | 0.505 | 0.001 | 1.725 | 4.309* |
HS11 | 1 | 290.347 | 279.164 | 0.228 | 0.005 | 6.246 | 9.037*** |
HS12 | 2 | 184.615 | 167.84 | 0.207 | 6.104** | 7.455 | 3.418b |
3 | 185.309 | 162.943 | 0.238 | 3.237* | 4.875 | 2.017a | |
HS13 | 3 | 151.352 | 128.985 | 0.384 | 0.276 | 9.904** | 6.61*** |
4 | 153.122 | 125.164 | 0.418 | 0.157 | 7.497 | 3.605b | |
HS15 | 2 | 257.508 | 240.733 | 0.389 | 2.060 | 5.174 | 5.507** |
HS16 | 2 | 221.107 | 209.924 | 0.425 | 0.062 | 1.903 | 8.043*** |
3 | 220.687 | 203.912 | 0.417 | 2.005 | 3.155 | 6.565*** | |
4 | 225.313 | 202.946 | 0.425 | 0.383 | 0.978 | 3.567b | |
HS17 | 2 | 211.658 | 194.884 | 0.241 | 1.144 | 3.997 | 3.414b |
3 | 211.102 | 188.735 | 0.256 | 0.476 | 7.356 | 2.864b | |
4 | 214.922 | 186.964 | 0.320 | 0.001 | 6.396 | 2.218a |