Table 3 Multivariate regression results... | Emerald Publishing

Table 3

Multivariate regression results for Model (2)

	Predicted sign	Unstandardised beta (β)	Standardised beta (β)	Sig	VIF
(Constant)		−2.341		0.000
MAJTRIBE	±	0.397	0.136	0.000	1.527
MIN_TRIBE	±	0.286	0.089	0.008	1.488
PARL	+	0.182	0.159	0.000	1.236
GOVT	+	−0.182	−0.125	0.000	1.340
ROA	–	−2.584	−0.225	0.000	2.062
LEV	–	−0.078	−0.272	0.000	1.798
M2B	–	−0.082	−0.175	0.000	1.627
GROW	–	1.153	0.087	0.030	2.065
AGE	–	−0.016	−0.204	0.000	1.530
Big4	–	−0.828	−0.141	0.000	1.468
AUDCOM	–	0.094	0.029	0.336	1.167
BNCOM	–	0.015	0.004	0.883	1.195
FIN_EXP	±	0.123	0.043	0.140	1.108
IND_EXP	±	0.090	0.031	0.285	1.097
GEN_F	–	0.242	0.070	0.014	1.065
EQ_Dummy		−0.657	−0.229	0.000	1.344
Ind. Effects = Yes
Adj. R2 = 0.353

	Predicted sign	Unstandardised beta (β)	Standardised beta (β)	Sig	VIF
(Constant)		−2.341		0.000
MAJTRIBE	±	0.397	0.136	0.000	1.527
MIN_TRIBE	±	0.286	0.089	0.008	1.488
PARL	+	0.182	0.159	0.000	1.236
GOVT	+	−0.182	−0.125	0.000	1.340
ROA	–	−2.584	−0.225	0.000	2.062
LEV	–	−0.078	−0.272	0.000	1.798
M2B	–	−0.082	−0.175	0.000	1.627
GROW	–	1.153	0.087	0.030	2.065
AGE	–	−0.016	−0.204	0.000	1.530
Big4	–	−0.828	−0.141	0.000	1.468
AUDCOM	–	0.094	0.029	0.336	1.167
BNCOM	–	0.015	0.004	0.883	1.195
FIN_EXP	±	0.123	0.043	0.140	1.108
IND_EXP	±	0.090	0.031	0.285	1.097
GEN_F	–	0.242	0.070	0.014	1.065
EQ_Dummy		−0.657	−0.229	0.000	1.344
Ind. Effects = Yes
Adj. R2 = 0.353

Note(s): F = 23.085***

N = 870 from 64 companies

Significant at *p < 0.10, **p < 0.05, ***p < 0.01. Refer to Appendix 1 for variable definitions