118 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES
TABLE 6.6 (Continued)
1980 1981 1982 1983Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.014 1.41 –0.028 –1.44 –0.01 –0.77 0.174 2.23
DE 0 –0.6 0 0.78 0 2.27 0 0.02
INTE –0.001 –0.4 0.001 0.28 –0.002 –1.68 –0.068 –1.94
DEPK –0.316 –3.22 0.07 0.42 –0.184 –2.24 –0.449 –1.93
PK –0.007 –0.26 –0.052 –1.2 –0.028 –1.1 0.032 1.62
DS –0.226 –0.45 2.076 2.42 1.247 1.94 –9.08 –2.21
IS 0.329 11.03 0.267 8.12 0.336 8.12 0.059 0.32
F-Statistic 21.99 13.99 12.51 1.48
Adj R2 0.17 0.11 0.1 0
1984 1985 1986 1987Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.031 1.5 0.093 3.59 0.082 1.98 0.004 0.16
DE 0.001 1.15 0 –0.78 –0.001 –0.93 0 –0.57
INTE –0.009 –1.06 –0.045 –4.1 0.003 0.87 –0.006 –0.51
DEPK –0.158 –4.42 –0.262 –3.91 –0.052 –0.84 0.003 0.21
PK –0.144 –4.81 0.176 7.15 0.105 1.88 –0.042 –0.68
DS 0.444 0.38 –7.931 –5.4 –6.957 –2.62 0.43 0.44
IS 0.36 4.67 0.292 3.32 0.413 3.08 0.288 1.98
F-Statistic 12.75 26.81 3.84 1.53
Adj R2 0.09 0.17 0.02 0
1988 1989 1990 1991Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.062 3 0.019 1.17 0.033 1.47 0.014 1.22
DE 0 0.06 0 –0.17 –0.001 –2.06 0 –0.23
INTE –0.017 –2 –0.004 –2.24 0.003 0.93 0.001 1.65
DEPK 0.933 6.55 –0.092 –1.35 –0.438 –2.49 0.005 0.5
PK –0.195 –6.4 0.081 1.28 0.13 1.67 0.017 0.7
DS –2.376 –2.64 –2.962 –1.87 –2.266 –1.42 –1.782 –2.63
IS –0.125 –1.61 0.361 6.3 0.222 3.63 0.163 5.67
F-Statistic 12.32 9.04 3.83 7.23
Adj R2 0.07 0.05 0.02 0.03