Table 4

Nested ANOVA. Spanish versus Foreign imprinting

SalesAssetsEmployeesSolvencyLiquidity
Spanish3,2845,58917.933.863.82
Foreign2,0961,50115.082.792.10
     China1,5271,46011.532.301.53
     Muslim2,7491,53413.843.512.96
Number of observations490490490490490
Root MSE14849.223429.755.0328.543278.37547
R-square0.01430.0220.00610.01340.0100
Adj R-squared0.01250.01870.00530.01070.0065
F5.31**7.42***2.82*4.74**3.2*
Prob > F(0.0011)(0.0001)(0.0310)(0.0021)(0.0181)

Note(s): *p < 0.05; **p < 0.01; ***p < 0.001

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