| ROE Model (Fixed Effect Result) | ROE Model (Random Effect Result) |
C | −0.58 (0.72) | 1.30 (0.11) |
Cosize | 0.009 (0.76) | −0.06 (0.038)** |
Codilig | −0.012 (0.72) | 0.025 (0.48) |
Cocomp | 1.5 (0.000)*** | 1.355 (0.003)*** |
Coexpert | 0.389 (0.10)* | 1.02 (0.000)*** |
Cogend | 0.11 (0.22) | 0.38 (0.000)*** |
ERM | 0.11 (0.033)** | 0.115 (0.063)* |
Lev | 0.014 (0.55) | −0.016 (0.13) |
Fs | −0.038 (0.57) | −0.105 (0.001)*** |
F-statistics | 5.58 (0.000) | 68.81 (0.000) |
R-squared | 0.56 | 0.37 |
Hausman Test | Prob > chi2 = 0.000*** |