136 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES
TABLE 6.11 (Continued)
1976 1977 1978 1979Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.109 9.45 0.117 8.16 0.092 8.36 0.067 4.64
PKL 0.056 1.66 –0.018 –0.51 0.097 3.35 –0.126 –2.98
CAK –0.163 –9.29 –0.155 –7.87 –0.147 –9.45 –0.045 –3.81
D2sales 0.046 1.94 –0.056 –2.15 0.007 0.42 0.107 4.4
DS –0.438 –2.26 1.443 6.42 –0.654 –4.34 1.508 7.1
FS 0.672 16.57 0.886 18.72 1.018 30.48 0.74 20.13
RDS 0.576 3.41 0.824 4.66 0.479 3.41 0.183 0.96
F-Statistic 79.92 81.27 200.33 78.05
Adj R2 0.58 0.58 0.78 0.58
1980 1981 1982 1983Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.095 10.55 0.096 5.63 0.123 8.62 0.026 2.19
PKL 0.039 1.79 0.01 0.22 –0.033 –0.81 0.106 2.54
CAK –0.131 –8.25 –0.08 –3.03 –0.124 –5.87 –0.01 –2.15
D2sales 0.012 0.89 –0.087 –3.24 0.054 2.86 –0.036 –2.35
DS –0.154 –1.18 0.777 2.08 0.259 1.16 0.429 1.23
FS 0.786 17 0.983 17.7 0.545 10.83 0.493 12.59
RDS 0.565 4.44 0.364 2.04 0.102 1.11 0.388 4
F-Statistic 73.99 75.05 39.45 30.64
Adj R2 0.56 0.56 0.4 0.33
1984 1985 1986 1987Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.051 6.21 0.069 11.76 0.062 7.85 0.084 10.17
PKL 0.007 2.94 0.093 6.68 0.013 0.46 –0.008 –0.89
CAK –0.001 –0.15 –0.088 –8.33 –0.004 –2 –0.08 –5.59
D2sales –0.008 –0.41 0.011 0.96 0.006 0.47 0.027 1.98
DS 0.343 1.13 0.178 0.82 0.106 0.96 –0.345 –1.65
FS 0.685 10.41 0.137 6.4 0.07 2.28 0.191 6.45
RDS 0.355 10.76 0.418 8.42 0.291 9.33 0.606 12.68
F-Statistic 39.75 23.32 20.72 36.31
Adj R2 0.38 0.25 0.22 0.32