128 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES
TABLE 6.9 (Continued)
1980 1981 1982 1983Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0 0 –0.048 –2.72 –0.054 –4.86 0.264 3.79
DE 0 –0.23 0 0.17 0 0.48 0 0.01
INTE –0.001 –1.42 0 –0.03 –0.001 –1.14 –0.025 –0.85
DEPK –0.335 –3.54 0.006 0.05 –0.091 –1.2 –0.597 –3.04
PK 0.048 2.64 –0.006 –0.37 0.017 1.57 0.043 2.46
DS –0.397 –0.83 2.584 3.42 2.735 5.03 –14.993 –4.12
IS 0.36 13.01 0.297 11.73 0.389 9.96 0.035 0.2
1984 1985 1986 1987Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.003 –0.18 0.17 9.17 0.103 3.07 –0.025 –1.11
DE 0 0.03 0 2.16 0 0.94 0 0.28
INTE –0.001 –0.21 –0.019 –3.75 –0.004 –1.8 –0.001 –0.22
DEPK –0.106 –3.17 –0.319 –4.97 –0.054 –1.24 –0.008 –0.57
PK –0.103 –3.59 0.162 7.02 0.114 2.52 0.006 0.09
DS 0.891 0.79 –12.751 –14.26 –8.611 –4.02 0.243 0.25
IS 0.497 6.78 0.19 2.4 0.432 4.62 0.512 4.37
1988 1989 1990 1991Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.177 9.67 0.012 0.72 0.059 2.76 0.031 3.44
DE 0 0.09 0 0 0 –2.32 0 0.31
INTE –0.014 –2.28 0.001 1.33 0.006 2.5 –0.001 –1.92
DEPK 0.559 4.82 0.071 2.04 –0.578 –3.72 0.005 0.83
PK –0.116 –4.66 0.173 3.09 0.257 3.96 0.014 2.41
DS –5.701 –6.9 –4.793 –3.28 –5.302 –3.76 –2.649 –5.52
IS –0.671 –10.79 0.376 7.27 0.258 4.65 0.143 5.4
1992 1993 1994 1995Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.131 –2.72 0.066 2.69 0.001 0 0.001 0.01
DE 0 0.58 0 –1.29 0 0.19 0 0.08
INTE 0.001 1.41 0 –1.35 0 0.25 0 –0.07
DEPK –0.042 –0.12 –0.525 –2.86 1.05 0.96 –0.775 –1.64
PK 0.008 0.06 0.136 2.74 –1.199 –2.59 –0.079 –0.4
DS 4.729 1.7 –5.394 –3.94 22.947 9.08 –3.221 –0.61
IS 0.77 7.15 0.376 7.4 0.199 0.32 1.909 6.26