Table 8. Updated regression statistics... | Emerald Publishing

Table 8.

Updated regression statistics for the significant industries with replaced independent lags included

	Coefficient
	S1	S2	S3	S4	S5	S6	S7	S8	S9
Independent variable	MVA	MVA	Qratio	MVA	MVA	MTB	Qratio	MVA	ROEKE
Dependent	EVA	EVA	ROA	ROCE	EVA	EVA	EVA	EVA	EVA
EVA(−1) ('000,000)	0.017	0.066*	X	X	X	0.174**	−0.003	0.702**	−3.130
EVA ('000,000)	X	X	−0.098***	−0.054*		X	X	X	X
ROCE(−1)	X	X	X	0.015***		X	X	X	X
ROCE	0.000	0.000***	−0.001	X		0.000	0.000*	0.000***	0.000
SPREAD(−1)	X	X	X	X		X	X	X	X
SPREAD	−0.138**	−0.066***	0.008	0.006**		0.013	−0.009	−0.081***	−0.005
ROA(−1)	X	X	0.002**	X		X	X	X	X
ROA	0.004***	−0.001	X	0.006		−0.003	0.002	−0.019***	−0.026***
Regression statistics
Adj. R²	0.626	0.846	0.756	0.855	X	0.803	0.601	0.970	0.905
p-value	0.000	–	0.000	0.000		0.000	0.000	0.000	0.000
DW	1.344	1.864	1.690	1.770		2.176	2.260	1.506	1.786

	Coefficient
	S1	S2	S3	S4	S5	S6	S7	S8	S9
Independent variable	MVA	MVA	Qratio	MVA	MVA	MTB	Qratio	MVA	ROEKE
Dependent	EVA	EVA	ROA	ROCE	EVA	EVA	EVA	EVA	EVA
EVA(−1) ('000,000)	0.017	0.066*	X	X	X	0.174**	−0.003	0.702**	−3.130
EVA ('000,000)	X	X	−0.098***	−0.054*		X	X	X	X
ROCE(−1)	X	X	X	0.015***		X	X	X	X
ROCE	0.000	0.000***	−0.001	X		0.000	0.000*	0.000***	0.000
SPREAD(−1)	X	X	X	X		X	X	X	X
SPREAD	−0.138**	−0.066***	0.008	0.006**		0.013	−0.009	−0.081***	−0.005
ROA(−1)	X	X	0.002**	X		X	X	X	X
ROA	0.004***	−0.001	X	0.006		−0.003	0.002	−0.019***	−0.026***
Regression statistics
Adj. R²	0.626	0.846	0.756	0.855	X	0.803	0.601	0.970	0.905
p-value	0.000	–	0.000	0.000		0.000	0.000	0.000	0.000
DW	1.344	1.864	1.690	1.770		2.176	2.260	1.506	1.786

Notes:

*, **, ***Significant, respectively, at the 10, 5 and 1% levels

Source: Own calculations