FEM for ROE

REM for ROE

C

−0.49

(0.67)

0.13

(0.21)

Cosize

0.04

(0.087)*

0.031

(0.11)

Codilig

−0.058

(0.026)**

−0.4

(0.11)

Cocomp

0.559

(0.024)**

0.56

(0.005)***

Coexpert

0.067

(0.651)

0.105

(0.418)

Cogend

0.037

(0.56)

0.065

(0.271)

Lev

−0.044

(0.003)***

−0.03

(0.005)***

Fs

0.02

(0.697)

−0.01

(0.63)

F-statistics

P-value

3.69

(0.001)***

22.23

(0.0023)***

R-squared

0.15

0.14

Hausman Test

Prob > chi² = 0.030**