Table A1. Regression model with return...

Table A1.

Regression model with return on net worth as dependent variable

Independent variables	Un-standardized coefficients		Standardized coefficients
Independent variables	B	Std. Error	Beta	t	Sig.
(Constant)	0.881	10.729		0.082	0.937
Capital employed	0.000	0.000	2.130	3.617	0.009
Raw material turnover ratio	0.065	0.020	0.232	3.171	0.016
Interest coverage ratio	−0.004	0.001	−0.312	−3.098	0.017
Market capitalization	0.000	0.000	−0.111	−0.659	0.531
Current ratio	−3.980	2.044	−0.175	−1.947	0.093
Dividend rate	0.055	0.016	0.663	3.384	0.012
Earnings per share	0.149	0.057	0.269	2.628	0.034
Gross working capital	0.000	0.000	−0.831	−3.388	0.012
Expenditure on R&D	−0.002	0.001	−0.238	−3.469	0.010
Sales efficiency	−0.319	0.102	−0.923	−3.127	0.017
Net income efficiency	2.909	0.672	4.862	4.327	0.003
Disinvestment efficiency	−0.013	0.004	−4.495	−3.617	0.009
Profit or loss	70.385	16.777	1.176	4.195	0.004
Industrial sector	−7.899	2.485	−0.304	−3.179	0.016
Performance contract	−110.273	19.206	−2.147	−5.742	0.001
Listing in stock exchange	−32.184	11.798	−0.538	−2.728	0.029
Corporate governance	106.454	16.970	1.941	6.273	0.000
Explanation of the model			Significance of the model:
R square	0.987		F	31.825
Adjusted R square (R²)	0.956		Sig.	0.000
Durbin–Watson test = 1.633

Independent variables	Un-standardizedcoefficients		Standardizedcoefficients
Independent variables	B	Std. Error	Beta	t	Sig.
(Constant)	0.881	10.729		0.082	0.937
Capital employed	0.000	0.000	2.130	3.617	0.009
Raw material turnover ratio	0.065	0.020	0.232	3.171	0.016
Interest coverage ratio	−0.004	0.001	−0.312	−3.098	0.017
Market capitalization	0.000	0.000	−0.111	−0.659	0.531
Current ratio	−3.980	2.044	−0.175	−1.947	0.093
Dividend rate	0.055	0.016	0.663	3.384	0.012
Earnings per share	0.149	0.057	0.269	2.628	0.034
Gross working capital	0.000	0.000	−0.831	−3.388	0.012
Expenditure on R&D	−0.002	0.001	−0.238	−3.469	0.010
Sales efficiency	−0.319	0.102	−0.923	−3.127	0.017
Net income efficiency	2.909	0.672	4.862	4.327	0.003
Disinvestment efficiency	−0.013	0.004	−4.495	−3.617	0.009
Profit or loss	70.385	16.777	1.176	4.195	0.004
Industrial sector	−7.899	2.485	−0.304	−3.179	0.016
Performance contract	−110.273	19.206	−2.147	−5.742	0.001
Listing in stock exchange	−32.184	11.798	−0.538	−2.728	0.029
Corporate governance	106.454	16.970	1.941	6.273	0.000
Explanation of the model			Significance of the model:
R square	0.987		F	31.825
Adjusted R square (R²)	0.956		Sig.	0.000
Durbin–Watson test = 1.633

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