Table 5. OLS regression model results... | Emerald Publishing

Table 5.

OLS regression model results and tests – Model (1) eICD index

Model specification:
Mean dep. variabile	0.730769	Std dev. dep. variable	0.154701
Sum of squared residuals	2.076569	Regression std error	0.137397
R²	0.252004	Adjusted R²	0.211204
F(6. 110)	12.72519	p-value(F)	0.000000

Model specification:
Mean dep. variabile	0.730769	Std dev. dep. variable	0.154701
Sum of squared residuals	2.076569	Regression std error	0.137397
R²	0.252004	Adjusted R²	0.211204
F(6. 110)	12.72519	p-value(F)	0.000000


Normality OLS model test: T Statistic: χ²(2) = 3.22913; p-value = 0.198977 (errors are normally distributed)
Jarque–Bera test: T statistic: 2.49972; p-value = 0.286545 (residuals are normally distributed)
Breusch–Pagan test: T statistic: LM = 6.06677; p-value = p(χ²(6) > 6.0677) = 0.415752 (not heteroskedasticity)
White test: T statistic: LM = 30.6008; p-value = p(χ²(26) > 30.6008) = 0.243471 (not heteroskedasticity)


Normality OLS model test: T Statistic: χ²(2) = 3.22913; p-value = 0.198977 (errors are normally distributed)
Jarque–Bera test: T statistic: 2.49972; p-value = 0.286545 (residuals are normally distributed)
Breusch–Pagan test: T statistic: LM = 6.06677; p-value = p(χ²(6) > 6.0677) = 0.415752 (not heteroskedasticity)
White test: T statistic: LM = 30.6008; p-value = p(χ²(26) > 30.6008) = 0.243471 (not heteroskedasticity)

	Coefficient	Std error	T-statistic	p-value	Sig.	Tol.	VIF
Const	0.153607	0.0806834	1.904	0.0595	*
Size	0.0334925	0.00978638	3.422	0.0009	***	0.525	1.906
Profitability	0.00253859	0.00138071	1.839	0.0687	*	0.887	1.127
Leverage	0.0928101	0.0677585	1.370	0.1736		0.854	1.170
Industry (high-tech)	0.0305990	0.0305667	1.001	0.3190		0.948	1.054
Board size	−0.000337604	0.00655246	−0.05152	0.9590		0.679	1.474
Board independence	0.180185	0.0892139	2.020	0.0458	**	0.747	1.339

	Coefficient	Std error	T-statistic	p-value	Sig.	Tol.	VIF
Const	0.153607	0.0806834	1.904	0.0595	*
Size	0.0334925	0.00978638	3.422	0.0009	***	0.525	1.906
Profitability	0.00253859	0.00138071	1.839	0.0687	*	0.887	1.127
Leverage	0.0928101	0.0677585	1.370	0.1736		0.854	1.170
Industry (high-tech)	0.0305990	0.0305667	1.001	0.3190		0.948	1.054
Board size	−0.000337604	0.00655246	−0.05152	0.9590		0.679	1.474
Board independence	0.180185	0.0892139	2.020	0.0458	**	0.747	1.339

Notes:

The asterisks indicate statistical significance at the following levels: *10%; **5%; ***1%