Estimates of market forces and scale effects
| Variate | Estimation results |
|---|---|
| Constant term | 0.252 (1.387) |
| Xm (Market premium rate μit) | 0.757 (4.722)*** |
| Xk (The size of the elastic ηit) | 1.153 (10.340)*** |
| Adjusted R-squared | 0.938476 |
| Cross-section random | YES |
| Variate | Estimation results |
|---|---|
| Constant term | 0.252 (1.387) |
| 0.757 (4.722) | |
| 1.153 (10.340) | |
| Adjusted R-squared | 0.938476 |
| Cross-section random | YES |
Note:
***indicated at the level of 1%, the value of t in parentheses
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