The Model 163
TABLE 6.17 (Continued)
1988 1989 1990 1991Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.004 –1.71 0.032 4.34 –0.069 –5.23 0.01 2.09
RDL 0.829 65.29 0.697 31.08 2.127 16.79 0.446 34.07
Size –0.196 –3.35 –1.072 –5.12 0.982 3.14 –1.301 –4.64
PKL 0.026 4.77 0.012 0.51 0.042 1.31 –0.029 –2.19
IS 0.033 1.55 0.078 1.47 0.085 0.69 0.566 4.16
DS –0.086 –1.42 –1.19 –3.08 0.903 1.57 –0.544 –1.6
FS 0.096 3.53 –0.217 –2.73 –1.03 –8.21 –0.287 –0.86
F-Statistic 1,058.45 1,535.45 2,423.27 1,664.37
Adj R2 0.93 0.95 0.97 0.95
1992 1993 1994 1995Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.035 –4.66 0.002 0.12 –0.015 –2.5 –0.061 –3.12
RDL 1.36 37.8 1.216 24.45 1.005 70.53 0.705 6.96
Size –3.258 –9.08 –3.65 –6.56 –1.783 –9.91 14.774 7.2
PKL –0.012 –1.41 –0.002 –0.58 –0.001 –0.32 0.027 0.66
IS 0.785 9.03 0.447 3.01 0.364 5.19 0.416 1.96
DS –0.818 –3.27 –0.976 –2.21 0.026 0.12 0.229 0.54
FS –0.48 –6.38 –1.029 –3.91 –0.418 –3.53 –0.965 –5.33
F-Statistic 826.18 414.11 2,352.24 390.02
Adj R2 0.89 0.8 0.95 0.76
1996 1997 1998 1999Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.083 –3.44 –0.053 –3.16 0.04 5.98 0.143 2.28
RDL 0.134 3.73 1.78 40.19 0.298 25.91 0.872 11.97
Size 15.125 12.31 1.838 7.3 0.063 0.39 4.089 3.96
PKL 0.103 2.24 0.111 2.6 0.001 0.17 0.008 0.09
IS –0.525 –2.53 –0.027 –0.28 –0.207 –6.53 –0.451 –1.72
DS 1.596 1.35 0.112 0.18 –0.884 –3.38 –0.416 –0.44
FS 2.091 10.97 –0.636 –2.76 0.223 22.64 –2.332 –4.27
F-Statistic 72.95 687.69 336.76 36.12
Adj R2 0.35 0.82 0.68 0.18
(Continued)