Coefficients

T-stats

R-square

P-Value

Size (log of total assets)

−1.2435

−4.8045

0.2043

0.0000

ROA

−3.5985

−4.4953

0.4996

0.0000

Growth (Capital Exp/Sales)

−0.0014

−0.7987

0.0001

0.4267

R & D/Assets

5.7056

9.1667

0.5203

0.0000

Diversification Dummy

−1.2311

−2.7136

0.0500

0.0081

Advertising/Assets

−9.3772

−2.4957

0.0061

0.0145

Dividend Dummy

−1.7686

−2.4091

0.1019

0.0182

Debt to Equity

−0.0073

−0.6169

0.0044

0.5389

Foreign Sales/Total Sales

0.6224

0.6057

0.0054

0.5464