Results of linear regression panel data with the method B-cycle as an a explanatory variable
| Variable | (1) | (2) | (3) | (4) | (5) | (6) | |
|---|---|---|---|---|---|---|---|
| Market timing tests (Tunisia) | |||||||
| Constant | −1.526 (0.000) | −1.477 (0.000) | −1.222 (0.000) | −1.401 (0.000) | −1.371 (0.000) | −1.2276 (0.000) | |
| MTB tim (−1) | −0.0001 (0.880) | −0.00015 (0.882) | 0.00029 (0.739) | 0.0002 (0.726) | 0.00020 (0.761) | 0.00054 (0.332) | |
| MTB (−1) | 0.0136 (0.000) | 0.01359 (0.000) | 0.0057 (0.073) | −0.0064 (0.012) | −0.00697 (0.011) | −0.01148 (0.000) | |
| ln age | −0.02276 (0.210) | −0.02078 (0.189) | |||||
| RETA | −0.30188 (0.008) | −0.44283 (0.005) | |||||
| RETE | −0.11382 (0.000) | −0.05511 (0.056) | |||||
| MSO | −0.0919 (0.134) | −0.0881 (0.039) | |||||
| II | 0.01168 (0.818) | 0.01549 (0.766) | |||||
| BLOC3 | −0.04761 (0.375) | −0.10703 (0.003) | |||||
| Prof | −0.1766 ( 0.195) | −0.1959 (0.160) | −0.16951 (0.169) | −0.188 (0.166) | −0.2273 (0.102) | −0.13797 (0.282) | |
| Size | 0.0929 (0.000) | 0.09116 (0.000) | 0.08295 (0.000) | 0.0866 (0.000) | 0.08700 (0.000) | 0.08300 (0.000) | |
| Tang | 0.1205 (0.148) | 0.09962 (0.257) | 0.04564 (0.502) | 0.1429 (0.154) | 0.09774 (0.338) | 0.0821 (0.325) | |
| R2 | 0.2334 | 0.2382 | 0.4178 | 0.1651 | 0.1843 | 0.2999 | |
| Observation | 216 | 216 | 216 | 216 | 216 | 216 | |
| Market timing tests (France) | |||||||
| Constant | −0.5466 (0.000) | −0.55065 (0.001) | −0.5478 (0.001) | −0.4041 (0.002) | −0.4599 (0.006) | −0.4432 (0.002) | |
| MTB tim (−1) | −0.0008 (0.631) | −0.00076 (0.650) | −0.0008 (0.615) | 0.0006 (0.721) | 0.00072 (0.700) | 0.00067 (0.716) | |
| MTB (−1) | 0.0188 (0.000) | 0.01888 (0.000) | 0.01646 (0.000) | −0.02469 (0.000) | −0.02455 (0.000) | −0.0268 (0.000) | |
| ln age | 0.0285 (0.002) | 0.02952 (0.001) | |||||
| RETA | −0.0779 (0.219) | −0.05292 (0.351) | |||||
| RETE | −0.02043 (0.007) | −0.01604 (0.027) | |||||
| MSO | −0.00834 (0.853) | 0.01824 (0.751) | |||||
| II | 0.00877 (0.790) | 0.01814 (0.560) | |||||
| BLOC3 | 0.00508 (0.896) | 0.02612 (0.474) | |||||
| Prof | −0.3833 (0.001) | −0.38083 (0.001) | −0.3727 (0.001) | −0.32494 (0.002) | −0.32240 (0.002) | −0.31106 (0.002) | |
| Size | 0.0371 (0.000) | 0.0370 (0.000) | 0.03446 (0.000) | 0.03150 (0.000) | 0.0331 (0.000) | 0.02962 (0.000) | |
| Tang | 0.16986 (0.021) | 0.1695 (0.023) | 0.1680 (0.0021) | 0.15380 (0.009) | 0.15135 (0.008) | 0.14263 (0.014) | |
| R2 | 0.2005 | 0.2002 | 0.2456 | 0.1405 | 0.1413 | 0.1748 | |
| Observation | 900 | 900 | 900 | 900 | 900 | 900 | |
| Variable | (1) | (2) | (3) | (4) | (5) | (6) | |
|---|---|---|---|---|---|---|---|
| Market timing tests (Tunisia) | |||||||
| Constant | |||||||
| MTB tim (−1) | −0.0001 (0.880) | −0.00015 (0.882) | 0.00029 (0.739) | 0.0002 (0.726) | 0.00020 (0.761) | 0.00054 (0.332) | |
| MTB (−1) | |||||||
| −0.02276 (0.210) | −0.02078 (0.189) | ||||||
| RETA | |||||||
| RETE | |||||||
| MSO | −0.0919 (0.134) | ||||||
| II | 0.01168 (0.818) | 0.01549 (0.766) | |||||
| BLOC3 | −0.04761 (0.375) | ||||||
| −0.1766 ( 0.195) | −0.1959 (0.160) | −0.16951 (0.169) | −0.188 (0.166) | −0.2273 (0.102) | −0.13797 (0.282) | ||
| 0.1205 (0.148) | 0.09962 (0.257) | 0.04564 (0.502) | 0.1429 (0.154) | 0.09774 (0.338) | 0.0821 (0.325) | ||
| Observation | |||||||
| Constant | |||||||
| MTB tim (−1) | −0.0008 (0.631) | −0.00076 (0.650) | −0.0008 (0.615) | 0.0006 (0.721) | 0.00072 (0.700) | 0.00067 (0.716) | |
| MTB (−1) | |||||||
| RETA | −0.0779 (0.219) | −0.05292 (0.351) | |||||
| RETE | |||||||
| MSO | −0.00834 (0.853) | 0.01824 (0.751) | |||||
| II | 0.00877 (0.790) | 0.01814 (0.560) | |||||
| BLOC3 | 0.00508 (0.896) | 0.02612 (0.474) | |||||
| Observation | |||||||
Sharing content requires targeting cookies to be enabled. Please update your cookie preferences to use this feature.