Table 5 Additional test (family and... | Emerald Publishing

Table 5

Additional test (family and non-family firm)

	Family firm		Nonfamily firm
	Coeff	Sig	Coeff	Sig
Var Dependent: Value Relevance
Intercept	−32730.78	0.000***	−1527.855	0.1408
BV	4.640812	0.1006*	561.8763	0.0000***
EPS	6.669791	0.0146***	9.535970	0.0000***
Instown	63.71500	0.0718*	1.200491	0.8323
Conserv	2330.784	0.7482	1856.888	0.0532**
Instown * Conserv	−14.53142	0.8827	−20.33012	0.1315
Size	4877.600	0.0000	513.5096	0.0004***
Lev	−5396.226	0.0964*	−2735.802	0.0000***
ROA	14153.61	0.2394	−14985.11	0.0000***
Vol	−568.7386	0.8138	−1250.860	0.0001***
F-Stat	6.983869	0.0000***	72.80596	0.0000***
Adj. R²	0.187090		0.659945

	Family firm		Nonfamily firm
	Coeff	Sig	Coeff	Sig
Var Dependent: Value Relevance
Intercept	−32730.78	0.000***	−1527.855	0.1408
BV	4.640812	0.1006*	561.8763	0.0000***
EPS	6.669791	0.0146***	9.535970	0.0000***
Instown	63.71500	0.0718*	1.200491	0.8323
Conserv	2330.784	0.7482	1856.888	0.0532**
Instown * Conserv	−14.53142	0.8827	−20.33012	0.1315
Size	4877.600	0.0000	513.5096	0.0004***
Lev	−5396.226	0.0964*	−2735.802	0.0000***
ROA	14153.61	0.2394	−14985.11	0.0000***
Vol	−568.7386	0.8138	−1250.860	0.0001***
F-Stat	6.983869	0.0000***	72.80596	0.0000***
Adj. R²	0.187090		0.659945

Note(s): *significant at 0.1, **significant at 0.05 ***significant at 0.01

Source(s): Processed data