Explanatory variable | Parameter estimate | T-statistic | P value |
INTERCEPT | 8.083 | 3.446 | 0.002* |
INVESTt−1 | 0.227 | 2.471 | 0.021* |
FTt | −5.142 | −3.878 | 0.001* |
RNT | −16.042 | −3.589 | 0.002* |
RNTt−1 | 12.358 | −3.015 | 0.006* |
EGROWTHt | 0.988 | 6.269 | 0.000* |
TBALt | 0.789 | 7.237 | 0.000* |
SRATIOt | 0.425 | 4.096 | 0.000* |