Table 5. Effects of DT on revenue,...

Table 5.

Effects of DT on revenue, profit and stock price rebound

REBOUND	D. $R E V_R E B$	E. $M A R G I N_R E B$	F.S. $P R I C E_R E B$
${F D T}_{i t}$ ^a	0.227*
${B D T}_{i t}$ ^b		0.053
${D T}_{i t}$ ^c			−0.053
${L I M I T E D}_{i}$	−0.188	−0.034
${D E B T}_{i t - 1}$	0.001	0.066	−0.062***
${C A S H F L O W}_{i t - 1}$	−0.006	0.012
${D Q}_{i t - 1}$	−0.279	−0.197***
${M K T_S H A R E}_{i t - 1}$		−0.001
${D_D I V I D E N D}_{i t - 1}$			−0.008
${R E P}_{i t - 1}$			0.028
${A S S E T}_{i t - 1}$	0.014	0.043	0.023
$C o n s t a n t$	−0.091	−0.380	−0.221
N	116	121	73
Cluster	31	32	17
$R^{2}$	0.254	0.170	0.465

Note(s):

*p < 0.10, **p < 0.05, ***p < 0.01, ****p < 0.001. ^aSE = 0.130, p-value = 0.080, 95% CI = [−0.027, 0.482]. ^bSE = 0.056, p-value = 0.338, 95% CI = [−0.056, −0.164]. ^cSE = 0.092, p-value = 0.562, 95% CI = [−0.233, 0.126]

Source(s): Developed by authors

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