منبع پایان نامه ارشد با موضوع  ، Value، Equation:، Std.

دانلود پایان نامه ارشد

DEF*BELOW*DVT SUR*ABOVE*DVT*RISKFIRM(-1) DEF*ABOVE*DVT*RISKFIRM(-1) SUR*BELOW*DVT*RISKFIRM(-1) DEF*BELOW*DVT*RISKFIRM(-1) SUR*ABOVE*DVT*INFG(-1) DEF*ABOVE*DVT*INFG(-1) SUR*BELOW*DVT*INFG(-1) DEF*BELOW*DVT*INFG(-1) @LEV(@SYSPER)
Constant added to instrument list

Variable
Coefficient
Std. Error
t-Statistic
Prob.

ACTUAL(-1)
0.281858
0.044427
6.344231
0
SUR
0.136862
0.01647
8.30977
0
DEF
0.122123
0.017419
7.010774
0
SUR*ABOVE*DVT
0.315534
0.096164
3.281215
0.0011
DEF*ABOVE*DVT
0.23252
0.066339
3.505021
0.0005
SUR*BELOW*DVT
0.441799
0.096596
4.573697
0
DEF*BELOW*DVT
0.159441
0.048697
3.274129
0.0011
SUR*ABOVE*DVT*RISKFIRM(-1)
-0.01553
0.011395
-1.36295
0.1732
DEF*ABOVE*DVT*RISKFIRM(-1)
0.009781
0.006372
1.534953
0.1251
SUR*BELOW*DVT*RISKFIRM(-1)
-0.04821
0.013381
-3.60263
0.0003
DEF*BELOW*DVT*RISKFIRM(-1)
-0.00635
0.00149
-4.2618
0
SUR*ABOVE*DVT*INFG(-1)
0.01344
0.007051
1.906105
0.0569
DEF*ABOVE*DVT*INFG(-1)
0.014905
0.004225
3.528051
0.0004
SUR*BELOW*DVT*INFG(-1)
-0.0028
0.004059
-0.69079
0.4898
DEF*BELOW*DVT*INFG(-1)
-0.00204
0.003609
-0.56466
0.5724
@LEV(@ISPERIOD(“1385”))
-0.01807
0.011921
-1.51614
0.1298
@LEV(@ISPERIOD(“1386”))
-0.01356
0.009781
-1.38664
0.1658
@LEV(@ISPERIOD(“1387”))
0.008631
0.007821
1.103558
0.27
@LEV(@ISPERIOD(“1388”))
-0.0045
0.008432
-0.53333
0.5939
@LEV(@ISPERIOD(“1389”))
-0.01179
0.008681
-1.3578
0.1748
@LEV(@ISPERIOD(“1390”))
-0.00199
0.007288
-0.27299
0.7849
@LEV(@ISPERIOD(“1391”))
0.006274
0.00846
0.741567
0.4585
@LEV(@ISPERIOD(“1392”))
-0.05507
0.01023
-5.38254
0

Effects Specification

Cross-section fixed (first differences)

Period fixed (dummy variables)

Mean dependent var
-0.01244
S.D. dependent var
0.126007
S.E. of regression
0.128194
Sum squared resid
19.16174
J-statistic
42.53445
Instrument rank
58
Prob(J-statistic)
0.178409

Arellano-Bond Serial Correlation Test

Equation: Untitled

Date: 12/23/14 Time: 00:51

Sample: 1380 1392

Included observations: 1189

Test order
m-Statistic
rho
SE(rho)
Prob.

AR(1)
-6.56105
-8.01455
1.221534
0
AR(2)
-0.00704
-0.00542
0.769062
0.9944

Dependent Variable: ACTUAL

Method: Panel Generalized Method of Moments
Transformation: First Differences

Date: 12/18/14 Time: 00:30

Sample (adjusted): 1385 1392

Periods included: 8

Cross-sections included: 153

Total panel (unbalanced) observations: 1189
White period instrument weighting matrix
Constant added to instrument list

White period standard errors & covariance (no d.f. correction)

Instrument specification: @DYN(ACTUAL,-2) SUR DEF SUR*ABOVE*DVT SUR*BELOW*DVT SUR*ABOVE*DVT*RISKFIRM(-1)*RFZERO(-1) SUR*ABOVE*DVT*RISKFIRM(-1)*RFLOW(-1) SUR*ABOVE*DVT*RISKFIRM( -1)*RFMED(-1) SUR*ABOVE*DVT*RISKFIRM(-1)*RFHIGH(-1) SUR*BELOW*DVT*RISKFIRM(-1)*RFZERO(-1) SUR*BELOW*DVT*RISKFIRM(-1)*RFLOW(-1) SUR*BELOW*DVT*RISKFIRM(-1)*RFMED(-1) SUR*BELOW*DVT*RISKFIRM(-1)*RFHIGH(-1) SUR*ABOVE*DVT*INFG(-1)*RMLOW(-1) SUR*ABOVE*DVT*INFG(-1)*RMZERO(-1) SUR*ABOVE*DVT*INFG(-1)*RMMED(-1) SUR*ABOVE*DVT*INFG(-1)*RMHIGH(-1) SUR*BELOW*DVT*INFG(-1)*RMZERO(-1) SUR*BELOW*DVT*INFG(-1)*RMLOW(-1) SUR*BELOW*DVT*INFG(-1)*RMMED(-1) SUR*BELOW*DVT*INFG(-1)*RMHIGH(-1) DEF*ABOVE*DVT DEF*BELOW*DVT DEF*ABOVE*DVT*RISKFIRM(-1)*RFZERO(-1) DEF*ABOVE*DVT*RISKFIRM(-1)*RFLOW(-1) DEF*ABOVE*DVT*RISKFIRM(-1)*RFMED(-1) DEF*ABOVE*DVT*RISKFIRM(-1)*RFHIGH(-1) DEF*BELOW*DVT*RISKFIRM(-1)*RFZERO(-1) DEF*BELOW*DVT*RISKFIRM(-1)*RFLOW(-1) DEF*BELOW*DVT*RISKFIRM(-1)*RFMED(-1) DEF*BELOW*DVT*RISKFIRM(-1)*RFHIGH(-1) DEF*ABOVE*DVT*INFG(-1)*RMLOW(-1) DEF*ABOVE*DVT*INFG(-1) *RMZERO(-1) DEF*ABOVE*DVT*INFG(-1)*RMMED(-1) DEF*ABOVE*DVT*INFG(-1)*RMHIGH(-1) DEF*BELOW*DVT*INFG(-1)*RMZERO(-1) DEF*BELOW*DVT*INFG(-1)*RMLOW(-1) DEF*BELOW*DVT*INFG(-1)*RMMED(-1) DEF*BELOW*DVT*INFG(-1)*RMHIGH(-1) @LEV(SUR) @LEV(DEF) @LEV(C) @LEV(@SYSPER)

Variable
Coefficient
Std. Error
t-Statistic
Prob.

ACTUAL(-1)
0.361918
0.046938
7.710597
0
SUR
0.148296
0.018518
8.00812
0
DEF
0.133991
0.01848
7.250543
0
SUR*ABOVE*DVT
0.777716
0.156779
4.960596
0
SUR*BELOW*DVT
0.370155
0.107704
3.43679
0.0006
SUR*ABOVE*DVT*RISKFIRM(-1)*RFZERO
-0.24683
0.161977
-1.52389
0.1278
SUR*ABOVE*DVT*RISKFIRM(-1)*RFLOW
-0.07972
0.070823
-1.12563
0.2606
SUR*ABOVE*DVT*RISKFIRM(-1)*RFMED
-0.07142
0.052414
-1.36261
0.1733
SUR*ABOVE*DVT*RISKFIRM(-1)*RFHIGH
-0.039
0.012878
-3.02854
0.0025
SUR*BELOW*DVT*RISKFIRM(-1)*RFZERO
-0.09235
0.095061
-0.97149
0.3315
SUR*BELOW*DVT*RISKFIRM(-1)*RFLOW
-0.00936
0.078892
-0.11867
0.9056
SUR*BELOW*DVT*RISKFIRM(-1)*RFMED
-0.02084
0.043903
-0.47471
0.6351
SUR*BELOW*DVT*RISKFIRM(-1)*RFHIGH
-0.04498
0.013984
-3.21624
0.0013
SUR*ABOVE*DVT*INFG(-1)*RMLOW
-0.00194
0.008139
-0.23828
0.8117
SUR*ABOVE*DVT*INFG(-1)*RMZERO
-0.01664
0.015437
-1.07765
0.2814
SUR*ABOVE*DVT*INFG(-1)*RMMED
0.003175
0.009729
0.326379
0.7442
SUR*ABOVE*DVT*INFG(-1)*RMHIGH
-0.21078
0.069211
-3.04548
0.0024
SUR*BELOW*DVT*INFG(-1)*RMZERO
0.017599
0.009557
1.841407
0.0658
SUR*BELOW*DVT*INFG(-1)*RMLOW
-0.00091
0.004361
-0.20927
0.8343
SUR*BELOW*DVT*INFG(-1)*RMMED
-0.00261
0.008957
-0.29156
0.7707
SUR*BELOW*DVT*INFG(-1)*RMHIGH
0.121028
0.095934
1.261575
0.2074
DEF*ABOVE*DVT
0.461891
0.152045
3.037861
0.0024
DEF*BELOW*DVT
0.156779
0.064944
2.414057
0.0159
DEF*ABOVE*DVT*RISKFIRM(-1)*RFZERO
0.045337
0.085165
0.532349
0.5946
DEF*ABOVE*DVT*RISKFIRM(-1)*RFLOW
-0.1034
0.071705
-1.44195
0.1496
DEF*ABOVE*DVT*RISKFIRM(-1)*RFMED
-0.07005
0.03672
-1.90762
0.0567
DEF*ABOVE*DVT*RISKFIRM(-1)*RFHIGH
-0.00138
0.008656
-0.15975
0.8731
DEF*BELOW*DVT*RISKFIRM(-1)*RFZERO
0.30254
0.062424
4.84657
0
DEF*BELOW*DVT*RISKFIRM(-1)*RFLOW
-0.02075
0.039809
-0.52122
0.6023
DEF*BELOW*DVT*RISKFIRM(-1)*RFMED
-0.01523
0.026033
-0.58482
0.5588
DEF*BELOW*DVT*RISKFIRM(-1)*RFHIGH
-0.0055
0.001875
-2.93516
0.0034
DEF*ABOVE*DVT*INFG(-1)*RMLOW
0.013437
0.00592
2.269976
0.0234
DEF*ABOVE*DVT*INFG(-1)*RMZERO
-0.00739
0.0092
-0.80314
0.4221
DEF*ABOVE*DVT*INFG(-1)*RMMED
0.014262
0.009899
1.440705
0.1499
DEF*ABOVE*DVT*INFG(-1)*RMHIGH
-0.05995
0.04381
-1.36835
0.1715
DEF*BELOW*DVT*INFG(-1)*RMZERO
0.002206
0.004805
0.45908
0.6463
DEF*BELOW*DVT*INFG(-1)*RMLOW
-0.00343
0.004193
-0.8178
0.4136
DEF*BELOW*DVT*INFG(-1)*RMMED
-0.01226
0.0077
-1.59162
0.1117
DEF*BELOW*DVT*INFG(-1)*RMHIGH
-0.03998
0.038314
-1.04346
0.297
@LEV(@ISPERIOD(“1385”))
-0.00098
0.012534
-0.07851
0.9374
@LEV(@ISPERIOD(“1386”))
-0.02153
0.010943
-1.96745
0.0494
@LEV(@ISPERIOD(“1387”))
0.013343
0.008297
1.608038
0.1081
@LEV(@ISPERIOD(“1388”))
-0.00527
0.008913
-0.59095
0.5547
@LEV(@ISPERIOD(“1389”))
-0.02113
0.011607
-1.82062
0.0689
@LEV(@ISPERIOD(“1390”))
0.030111
0.011422
2.636303
0.0085
@LEV(@ISPERIOD(“1391”))
0.000326
0.014445
0.022601
0.982
@LEV(@ISPERIOD(“1392”))
-0.06423
0.013291
-4.83258
0

Effects Specification

Cross-section fixed (first differences)

Period fixed (dummy variables)

Mean dependent var
-0.01244
S.D. dependent var
0.126007
S.E. of regression
0.130237
Sum squared resid
19.37034
J-statistic
41.69111
Instrument rank
83
Prob(J-statistic)
0.237

Arellano-Bond Serial Correlation Test

Equation: EQ04

Date: 12/18/14 Time: 00:18

Sample: 1380 1392

Included observations: 1189

Test order
m-Statistic
rho
SE(rho)
Prob.

AR(1)
-6.34597
-8.34321
1.314725
0
AR(2)
0.349605
0.329944
0.943764
0.7266

Wald Test:

Equation: EQ03

Test Statistic
Value
df
Probability
t-statistic
3.142354
1170
0.0017
F-statistic
9.874386
(1, 1170)
0.0017
Chi-square
9.874386
1
0.0017

Null Hypothesis: C(2)+C(7)+C(15)=0
Null Hypothesis Summary:

Normalized Restriction (= 0)
Value
Std. Err.

C(2) + C(7) + C(15)
0.295698
0.094101
Restrictions are linear in coefficients.

Wald Test:

Equation: EQ03

Test Statistic
Value
df
Probability
t-statistic
3.307095
1170
0.001
F-statistic
10.93688
(1, 1170)
0.001
Chi-square
10.93688
1
0.0009

Null Hypothesis: C(2)+C(7)+C(14)=0
Null Hypothesis Summary:

Normalized Restriction (= 0)
Value
Std. Err.
C(2) + C(7) + C(14)
0.342176
0.103467
Restrictions are linear in coefficients.

Wald Test:
 
 

Wald Test:
 
 
Equation: EQ03
 
 

Equation: EQ04
 
 
 
 
 
 

 
 
 
 
Test Statistic
Value
df
Probability

Test Statistic
Value
df
Probability
t-statistic
3.359048
1170
0.0008

t-statistic
4.559419
1142
0
F-statistic
11.28321
(1, 1170)
0.0008

F-statistic
20.7883
(1, 1142)
0
Chi-square
11.28321
1
0.0008

Chi-square
20.7883
1
0
 
 
 
 

 
 
 
 
Null Hypothesis: C(2)+C(7)+C(13)=0
 
Null Hypothesis: C(2)+C(5)+C(13)+C(19)=0
Null Hypothesis Summary:
 

Null Hypothesis Summary:
 
Normalized Restriction (= 0)
Value
Std. Err.

 
 
 
 
 
 
 
 

Normalized Restriction (= 0)
Value
Std. Err.
C(2) + C(7) + C(13)
0.344973
0.1027

C(2) + C(5) + C(13) + C(19)
0.470863
0.103273
Restrictions are linear in coefficients.

Restrictions are linear in coefficients.

Wald Test:
 
 

Wald Test:
 
 
Equation: EQ03
 
 

Equation: EQ04
 
 
 
 
 
 

 
 
 
 
Test Statistic
Value
df
Probability

Test

پایان نامه
Previous Entries منبع پایان نامه ارشد با موضوع بورس اوراق بهادار، بورس اوراق بهادار تهران، شرکت‌های پذیرفته شده، ساختار سرمایه Next Entries منبع پایان نامه ارشد با موضوع  ، Value، F-statistic، (1,