140 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES
TABLE 6.12 (Continued)
1972 1973 1974 1975Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.014 –1.73 0.029 1.08 0.028 1.34 –0.008 –1.02
DE –0.001 –1.33 –0.003 –1.38 0 0.4 0.001 1.45
INTE –0.023 –1.14 –0.25 –10.97 –0.023 –3.73 –0.001 –0.24
PKL 0.011 0.42 –0.411 –4.49 –0.135 –1.99 –0.053 –2.12
DS –0.132 –1.56 5.806 17.2 3.394 11.27 0.586 3.65
IS 0.427 16.18 0.235 2.52 –0.268 –3.1 0.388 10.44
RDS –0.025 –0.2 0.779 1.79 0.365 1.05 –0.072 –0.49
F-Statistic 46.46 51.43 22.67 24.3
Adj R2 0.54 0.51 0.31 0.31
1976 1977 1978 1979Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.013 –1.34 –0.01 –1.08 –0.01 –1.3 –0.022 –1.59
DE 0 –0.58 0.001 0.42 0 1.33 0 0.12
INTE –0.009 –0.66 0.001 1.39 –0.004 –0.65 –0.005 –0.48
PKL –0.071 –2.26 0.061 2.12 –0.082 –3.36 0.047 1.08
DS 0.682 3.55 –1.686 –9.49 0.592 4.58 –1.524 –6.89
IS 0.624 17.41 0.533 18.29 0.665 29.44 0.733 19.2
RDS –0.335 –2 –0.546 –3.78 –0.145 –1.2 –0.243 –1.22
F-Statistic 56.81 66.23 157.63 64.86
Adj R2 0.5 0.53 0.73 0.53
1980 1981 1982 1983Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.014 –2.37 –0.036 –3.53 –0.051 –4.46 0.034 2.55
DE 0 –0.99 0 –0.29 0 0.53 0 –0.11
INTE –0.007 –1 –0.004 –0.23 –0.002 –1.73 –0.022 –1.77
PKL –0.043 –2.62 0.033 1.06 0.05 1.4 –0.213 –4.78
DS 0.295 2.61 –0.029 –0.1 –0.229 –1.14 –0.377 –0.95
IS 0.538 16.51 0.547 19.05 0.458 11.58 0.621 12.21
RDS 0.025 0.23 –0.139 –1.01 0.582 7.62 –0.096 –0.86
F-Statistic 52 65.04 43.51 30.77
Adj R2 0.47 0.52 0.42 0.33