The Model 177
TABLE 6.21 (Continued)
1984 1985 1986 1987Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.012 4.08 0.006 1.86 –0.04 –4.16 –0.011 –0.75
RDL 0.645 50.79 0.406 31.84 0.579 10.19 0.047 1.73
Size 0.026 0.41 0.119 1.51 1.392 7.09 –0.123 –0.75
PKL 0.006 4.61 –0.004 –0.92 –0.085 –2.95 –0.001 –0.06
IS –0.196 –4.26 0.228 7.53 0.603 8.41 0.998 10.4
DS 0.185 1.47 –0.208 –1.98 0.656 2.62 –0.329 –0.46
FS 0.68 6.97 0.081 5.63 0.479 6.33 –1.162 –12.66
1988 1989 1990 1991Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.004 –1.9 0.032 4.73 –0.107 –8.36 0.013 2.79
RDL 0.811 65.34 0.654 44.53 2.048 23.42 0.433 38.64
Size –0.172 –3.51 –0.974 –7.9 0.92 4.34 –1.212 –5.16
PKL 0.024 4.4 0.027 1.59 0.017 0.57 –0.031 –2.69
IS 0.025 1.23 0.26 5.17 0.86 7.85 0.65 5.68
DS –0.06 –0.99 –1.997 –6.94 0.845 1.49 –0.966 –3.21
FS 0.163 6.66 –0.5 –8.54 –1.546 –17.21 –0.557 –1.97
1992 1993 1994 1995Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.047 –7.17 –0.022 –1.92 –0.029 –5.59 –0.048 –2.51
RDL 1.126 39.68 0.961 24.64 0.989 82.93 0.773 9.84
Size –2.749 –11.7 –2.835 –7.26 –1.771 –13.55 18.145 11.4
PKL –0.02 –2.3 –0.002 –0.61 –0.001 –0.27 –0.049 –1.24
IS 1.214 20.44 1.282 10.56 0.621 11.65 0.593 2.99
DS –1.308 –5.51 –2.178 –5.78 0.193 0.87 0.146 0.35
FS –0.833 –15.44 –1.873 –10.1 –0.793 –9.16 –1.63 –11.64
1996 1997 1998 1999Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.139 –5.86 –0.048 –2.94 0.053 7.88 0.44 13.85
RDL 0.119 4.15 1.719 41.16 0.182 23.11 0.355 9.2
Size 13.384 12.49 1.779 7.77 0.034 0.45 1.559 4.81
PKL 0.031 0.68 0.091 2.15 –0.008 –1.66 –0.428 –6.97
IS –0.204 –1.02 0.309 3.37 –0.259 –8.39 –1.9 –11.51
DS 6.01 5.2 0.006 0.01 –1.501 –5.78 –0.599 –0.63
FS 2.607 15.87 –1.176 –5.6 0.317 49.95 –3.038 –17.38
(Continued)