Table 6. Preferred shareholder value... | Emerald Publishing

Table 6.

Preferred shareholder value creation measurement for each sample

Sample	Dependent variable	Adj. R²	F-value	p-value	Durbin–Watson
Sample	Dependent variable	Adj. R²	F-value	p-value	LDW	DW	UDW	SC
All firms	MVA	0.582	14.799	0.000	1.9003	1.295	2.0682	Positive SC
Firms with positive EVA	MVA	0.844	57.168	0.000	1.8734	1.474	2.0791	Positive SC
Capital-intensive firms	Qratio	0.753	31.573	0.000	1.8072	1.680	2.0971	Positive SC
Labor-intensive firms	MVA	0.840	60.937	0.000	1.8072	1.613	2.0971	Positive SC
Construction and materials	MVA	0.680	15.980	0.000	1.8072	1.568	2.0971	Positive SC
Food and beverages	MTB	0.796	29.467	0.000	1.8072	2.197	2.0971	Negative SC
Manufacturing	Qratio	0.577	14.005	0.000	1.8072	2.040	2.0971	No SC
Retail	MVA	0.964	267.336	0.000	1.8072	1.132	2.0971	Positive SC
Technology	ROEKE	0.894	63.406	0.000	1.8072	1.673	2.0971	Positive SC

Sample	Dependent variable	Adj. R²	F-value	p-value	Durbin–Watson
Sample	Dependent variable	Adj. R²	F-value	p-value	LDW	DW	UDW	SC
All firms	MVA	0.582	14.799	0.000	1.9003	1.295	2.0682	Positive SC
Firms with positive EVA	MVA	0.844	57.168	0.000	1.8734	1.474	2.0791	Positive SC
Capital-intensive firms	Qratio	0.753	31.573	0.000	1.8072	1.680	2.0971	Positive SC
Labor-intensive firms	MVA	0.840	60.937	0.000	1.8072	1.613	2.0971	Positive SC
Construction and materials	MVA	0.680	15.980	0.000	1.8072	1.568	2.0971	Positive SC
Food and beverages	MTB	0.796	29.467	0.000	1.8072	2.197	2.0971	Negative SC
Manufacturing	Qratio	0.577	14.005	0.000	1.8072	2.040	2.0971	No SC
Retail	MVA	0.964	267.336	0.000	1.8072	1.132	2.0971	Positive SC
Technology	ROEKE	0.894	63.406	0.000	1.8072	1.673	2.0971	Positive SC

Source: Own calculations