Table 4 Target debt prediction Model 2:... | Emerald Publishing

Table 4

Target debt prediction

Model 2: $Δ Ṣ u k ū k_{i t} = a_{i} + γ (Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}) + ε_{i t}$

Dependent variable	$Δ Ṣ u k ū k_{i t}$
Independent variables
$Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}$	0.062
$Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}$	(0.000)**
Constant	−0.33
Constant	(0.000)
R²	0.6831
Hausman test chi2	20.37
Prob > chi2	0.000
Wooldridge autocorrelation	(0.00)**
Instrumented $Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}$
Instruments	activity

Dependent variable	$Δ Ṣ u k ū k_{i t}$
Independent variables
$Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}$	0.062
$Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}$	(0.000)**
Constant	−0.33
Constant	(0.000)
R²	0.6831
Hausman test chi2	20.37
Prob > chi2	0.000
Wooldridge autocorrelation	(0.00)**
Instrumented $Ṣ u k ū k_{i t}^{*} - Ṣ u k ū k_{i t - 1}$
Instruments	activity

Note(s): *Significant at 5% level, **Significant at 1% level