Variable

AEM

Equation (1)

Equation (2)

Equation (3)

UW

1.11

1.12

1.16

AUDIT

1.11

1.11

1.12

CASH

1.85

1.85

1.9

SIZE

1.7

1.71

1.77

LEV

1.69

1.69

1.62

GROWTH

1.34

1.34

1.35

VC

1.12

UNION

1.22

1.16

SINGLE

1.18