Table 6. Panel EGLS regression results:... | Emerald Publishing

Table 6.

Panel EGLS regression results: Tobin’s Q and content elements

Variable	Unstandardised coefficient	Robust standard error	t-statistic
CE	0.0780	0.1937	0.4026
LEV	0.0355***	0.0074	4.7919
ROA	3.5259***	0.5913	5.9630
CAPEXR	−2.0887***	0.4842	−4.3129
LNASSETS	−0.5948*	0.0690	−8.6081
SALESG	0.0343*	0.0194	1.7621
DIV	0.2603**	0.1150	2.2626
INDSENS	0.2004**	0.0786	2.5503
LOSS	−0.0768	0.0680	−1.1288
N	525
D-W statistic	1.5422
R²	0.4617
Adjusted R²	0.4426
F-statistic	24.1190***

Variable	Unstandardised coefficient	Robust standard error	t-statistic
CE	0.0780	0.1937	0.4026
LEV	0.0355***	0.0074	4.7919
ROA	3.5259***	0.5913	5.9630
CAPEXR	−2.0887***	0.4842	−4.3129
LNASSETS	−0.5948*	0.0690	−8.6081
SALESG	0.0343*	0.0194	1.7621
DIV	0.2603**	0.1150	2.2626
INDSENS	0.2004**	0.0786	2.5503
LOSS	−0.0768	0.0680	−1.1288
N	525
D-W statistic	1.5422
R²	0.4617
Adjusted R²	0.4426
F-statistic	24.1190***

Note(s):

***, ** and * denote significance at the 1, 5 and 10% levels, respectively

Source(s): Authors’ construction