Dependent variable-payment ratio

Level of significance

Statistic of t-test

Standard deviation

Regression coefficients

VARIABLE

Independent variables

0/09

−1/67

12/93

−21/62

C

Equation constant (α)

0/000

+3/49

0/06

0/21

FF1

Financial flexibility

0/02

2/23

0/07

0/39

FF1 * CRISIS

Financial flexibility * crisis

0/09

1/67

0/009

0/02

YEAR

Year

0/09

1/66

0/006

0/01

IND

Industry

Statistic of test F-25/30 Level of significance-0/000. Moderated determination coefficient-0/62 statistic D.W-1.54