176 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES
TABLE 6.21 (Continued)
1968 1969 1970 1971Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.003 –0.78 –0.008 –2.93 –0.024 –3.66 0 0.13
RDL 0.908 17.73 0.883 22.22 1.122 13.64 0.734 19.47
Size –0.164 –2.25 0.004 0.1 0.303 4.32 –0.04 –1.23
PKL 0.021 1.58 0.026 2.4 0.097 4.2 0.035 3.23
IS –0.024 –1.11 0.005 0.4 0.116 3.52 –0.052 –1.97
DS –0.036 –0.57 0.046 0.88 –0.036 –0.35 –0.097 –1.4
FS 0.063 1 0.038 1.18 –0.415 –7.5 0.257 5.58
1972 1973 1974 1975Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept 0.003 2.27 0 0.1 0 –0.27 –0.002 –1.71
RDL 0.853 45.73 0.856 39.74 0.835 34.74 1.004 54.05
Size –0.047 –2.89 0.124 7.97 –0.108 –5.69 0.038 2.96
PKL 0.004 0.99 –0.002 –0.38 0.021 4.2 0.002 0.79
IS –0.035 –2.72 0.005 0.67 –0.018 –1.94 0.016 2.11
DS 0.012 0.99 0.02 1.05 –0.114 –3.13 0.005 0.24
FS 0.078 2.88 –0.013 –3.1 0.036 3.77 –0.032 –2.99
1976 1977 1978 1979Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.002 –2.04 –0.005 –1.46 –0.001 –0.25 0 –0.04
RDL 0.859 46.29 0.503 13 0.643 16.82 0.977 62.24
Size –0.01 –2.29 –0.009 –1.26 0.082 4.65 –0.037 –3.06
PKL 0.001 0.2 0.048 5.01 –0.027 –2.75 0.003 0.97
IS 0.07 5.46 0.282 19.16 0.291 11.93 0.029 4.07
DS 0.06 2.3 –0.914 –12.72 0.272 5.05 –0.081 –3.66
FS –0.091 –5.24 –0.511 –20.45 –0.515 –14.55 –0.044 –4.79
1980 1981 1982 1983Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat
Intercept –0.001 –0.76 –0.002 –2.17 –0.003 –1.09 –0.002 –1.38
RDL 0.994 77.23 1.121 72.65 1.08 45.91 0.946 80.54
Size 0.033 2.86 –0.071 –4.49 –0.14 –3.62 –0.084 –5.55
PKL 0.005 2.47 0.01 3.16 0.017 2.39 0.041 7.43
IS 0.001 0.07 0.001 0.15 0.067 4.55 –0.115 –10.78
DS –0.019 –1.24 –0.053 –1.76 –0.077 –1.8 0.062 1.38
FS 0.007 0.31 0.003 0.26 –0.33 –12.83 0.169 12.12