Table 6

(LTD GMM results

VariablesCoefficientStd. Errort-StatisticProb
PR 0.783 0.085 9.136 0.000 
NC 0.368 0.087 4.194 0.000 
TX 0.689 0.582 1.183 0.023 
TA 0.138 0.123 1.124 0.026 
LA 0.428 0.023 18.345 0.000 
153 977 1.573 0.115 
Mean Dep var 6710342 R-squared 0.298 
S.D Dep var 5095907 Adjusted R squared 0.297 
VariablesCoefficientStd. Errort-StatisticProb
PR 0.783 0.085 9.136 0.000 
NC 0.368 0.087 4.194 0.000 
TX 0.689 0.582 1.183 0.023 
TA 0.138 0.123 1.124 0.026 
LA 0.428 0.023 18.345 0.000 
153 977 1.573 0.115 
Mean Dep var 6710342 R-squared 0.298 
S.D Dep var 5095907 Adjusted R squared 0.297 

Note(s): LN (long term assets), NC (net cash), PR (profitability), TA (tangible assets), TX (taxes), Mean and S.D (standard deviation)

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