Table 6 Estimation and analysis results... | Emerald Publishing

Table 6

Estimation and analysis results of the models of Jones (1991), modified Jones (Dechow et al., 1995), Kasznik (1999) and Kothari et al. (2005)

Model	Effects	Statistic	Amount	Analysis	General model analysis
Jones (1991)	Random	$R^{2}$	0.291	Very weak	The low R² and R² Adj. have led to uncertainty about the model
		$R_{A d j}^{2}$	0.284	Very weak
		F	20.127	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval
Modified Jones (Dechow et al., 1995)	Random	$R^{2}$	0.301	Very weak	The low R² and R² Adj. have led to uncertainty about the model
		$R_{A d j}^{2}$	0.284	Very weak
		F	21.564	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval
Kasznik (1999)	Random	$R^{2}$	0.934	Very strong	The high R², R² Adj. and absence of ECM concerning the F-test statistic caused a high significance level to this model
		$R_{A d j}^{2}$	0.911	Very strong
		F	297.607	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval
Kothari et al. (2005)	Random	$R^{2}$	0.395474	Relatively weak	The low R² and R² Adj. make the model insignificant
		$R_{A d j}^{2}$	0.299487	Relatively weak
		F	0.514974	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval

Model	Effects	Statistic	Amount	Analysis	General model analysis
Jones (1991)	Random	$R^{2}$	0.291	Very weak	The low R² and R² Adj. have led to uncertainty about the model
		$R_{A d j}^{2}$	0.284	Very weak
		F	20.127	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval
Modified Jones (Dechow et al., 1995)	Random	$R^{2}$	0.301	Very weak	The low R² and R² Adj. have led to uncertainty about the model
		$R_{A d j}^{2}$	0.284	Very weak
		F	21.564	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval
Kasznik (1999)	Random	$R^{2}$	0.934	Very strong	The high R², R² Adj. and absence of ECM concerning the F-test statistic caused a high significance level to this model
		$R_{A d j}^{2}$	0.911	Very strong
		F	297.607	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval
Kothari et al. (2005)	Random	$R^{2}$	0.395474	Relatively weak	The low R² and R² Adj. make the model insignificant
		$R_{A d j}^{2}$	0.299487	Relatively weak
		F	0.514974	Acceptable at 95% confidence interval
		p-value	0.000	Acceptable at 95% confidence interval

Source(s): Author's own calculations