ROA regression results
| Independent variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
| ACSIZE | 0.018 (0.354) | 0.023 (0.249) | |||||
| ACMEET | 0.000 (0.751) | 0.000 (0.729) | |||||
| ACEXPERTISE | 0.045* (0.061) | 0.048* (0.071) | |||||
| NRC | 0.019* (0.051) | 0.021* (0.096) | |||||
| IO | 0.000 (0.402) | 0.000 (0.317) | |||||
| FO | 0.033* (0.050) | 0.038* (0.092) | |||||
| LEV | −0.204*** (0.000) | −0.211*** (0.000) | −0.210*** (0.000) | −0.210*** (0.000) | −0.209*** (0.000) | −0.210*** (0.000) | −0.206*** (0.000) |
| GROWTH | 0.033*** (0.000) | 0.034*** (0.000) | 0.034*** (0.000) | 0.034*** (0.000) | 0.033*** (0.000) | 0.033*** (0.000) | 0.034*** (0.000) |
| COV | −0.022*** (0.006) | −0.021*** (0.009) | −0.021*** (0.009) | −0.021*** (0.008) | −0.021*** (0.008) | −0.021*** (0.008) | −0.021*** (0.008) |
| Prob > chi2 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Overall r-squared | 0.238 | 0.218 | 0.213 | 0.219 | 0.218 | 0.214 | 0.22 |
| Independent variable | (1) | (2) | (3) | (4) | (5) | (6) | (7) |
|---|---|---|---|---|---|---|---|
| ACSIZE | 0.018 (0.354) | 0.023 (0.249) | |||||
| ACMEET | 0.000 (0.751) | 0.000 (0.729) | |||||
| ACEXPERTISE | 0.045* (0.061) | 0.048* (0.071) | |||||
| NRC | 0.019* (0.051) | 0.021* (0.096) | |||||
| IO | 0.000 (0.402) | 0.000 (0.317) | |||||
| FO | 0.033* (0.050) | 0.038* (0.092) | |||||
| LEV | −0.204*** (0.000) | −0.211*** (0.000) | −0.210*** (0.000) | −0.210*** (0.000) | −0.209*** (0.000) | −0.210*** (0.000) | −0.206*** (0.000) |
| GROWTH | 0.033*** (0.000) | 0.034*** (0.000) | 0.034*** (0.000) | 0.034*** (0.000) | 0.033*** (0.000) | 0.033*** (0.000) | 0.034*** (0.000) |
| COV | −0.022*** (0.006) | −0.021*** (0.009) | −0.021*** (0.009) | −0.021*** (0.008) | −0.021*** (0.008) | −0.021*** (0.008) | −0.021*** (0.008) |
| Prob > chi2 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Overall | 0.238 | 0.218 | 0.213 | 0.219 | 0.218 | 0.214 | 0.22 |
Note(s): ***p < 0.01, **p < 0.05, *p < 0.1
Source(s): The data was processed by the STATA application, and the table were created by the author