Table 6

Coefficients of study model

Overall sampleItalyFranceSpain
RETA1.6361.6981.1791.059
EBITTA3.9183.3976.5945.517
BVOETL0.3270.3220.3780.279
CR0.6200.867−1.5371.769

Note(s): RETA is retained earnings to total assets ratio, EBITTA is earnings before interest and taxes to total assets ratio, BVOETL is book value of equity to total liabilities ratio and CR is cash and cash equivalents to current liabilities ratio

Source(s): Table created by author

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