Dependent variable-payment ratio | |||||

Level of significance | Statistic of t-test | Standard deviation | Regression coefficients | Variable | Independent variables |

0/000 | −3/84 | 911/6 | −3505/2 | C | Equation constant (α) |

0/000 | 3/68 | 5/41 | 19/97 | FF1 | Financial flexibility |

0/04 | 4/006 | 5/42 | 21/74 | FF1 * CRISIS | Financial flexibility * crisis |

0/000 | 3/86 | 0/65 | 2/52 | YEAR | Year |

0/02 | −2/18 | 1/86 | −4/06 | IND | Industry |

Statistic of test F-33/37 Level of significance-0/000. Moderated determination coefficient-0/50 statistic D.W-2/30. |