Robust regression
| Variables | Coef. | Std. err. | T-value | P-value |
|---|---|---|---|---|
| C | 51.341 | 5.322 | 9.646 | 0.000 |
| ROA | −3.069 | 0.087 | −35.436 | 0.000 |
| ROE | 0.000 | 0.000 | −1.107 | 0.269 |
| ROCE | −0.137 | 0.031 | −4.376 | 0.000 |
| MVA | 1.500 | 0.023 | 66.353 | 0.000 |
| FSIZE | 0.881 | 0.466 | 1.891 | 0.059 |
| LIQ | −0.200 | 0.054 | −3.729 | 0.000 |
| TOBIN_Q | 2.816 | 0.227 | 12.390 | 0.000 |
| R2 | 0.192 | |||
| Adjusted R2 | 0.184 | |||
| Rw-squared | 0.472 | |||
| Adjust Rw-squared | 0.472 | |||
| Akaike info criterion | 1,001.933 | |||
| Prob(Rn-squared stat.) | 0.000 | |||
| Variables | Coef. | Std. err. | ||
|---|---|---|---|---|
| 51.341 | 5.322 | 9.646 | 0.000 | |
| −3.069 | 0.087 | −35.436 | 0.000 | |
| 0.000 | 0.000 | −1.107 | 0.269 | |
| −0.137 | 0.031 | −4.376 | 0.000 | |
| 1.500 | 0.023 | 66.353 | 0.000 | |
| 0.881 | 0.466 | 1.891 | 0.059 | |
| −0.200 | 0.054 | −3.729 | 0.000 | |
| 2.816 | 0.227 | 12.390 | 0.000 | |
| 0.192 | ||||
| Adjusted | 0.184 | |||
| Rw-squared | 0.472 | |||
| Adjust Rw-squared | 0.472 | |||
| Akaike info criterion | 1,001.933 | |||
| Prob(Rn-squared stat.) | 0.000 | |||
Notes:
1- LEV is leverage, ROE is return on equity, TQ is Tobin-Q, LIQ is liquidity, ROCE is return on capital employed, ROA is return on assets, FSIZE is firm size and MVA is market value added