Variables

(1)

(2)

(3)

(4)

(5)

Constant term

−0.0975***

(−2.982)

−0.0988***

(−3.0124)

−0.1042***

(−3.186)

−0.1438***

(−3.565)

−0.1644***

(−3.747)

0.4124***

(−9.9366)

0.4751***

(20.3240)

0.5084***

(17.7450)

0.4965***

(16.6263)

0.6015***

(13.9137)

0.8318***

(11.9397)

0.8420***

(12.2587)

0.8385***

(12.2767)

0.8698***

(14.1307)

0.0047*

(−1.9303)

0.0053**

(−2.1490)

0.0069**

(−2.3953)

0.0058*

(0.0623)

−0.0098***

(2.3216)

−0.0021***

(2.8074)

R2

0.3584

0.7099

0.7613

0.8265

0.8666

DW

2.0573

2.0141

2.0605

2.0511

2.0304