پایان نامه با کلمات کلیدی of، observations:، Instrument، dependent

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LEVV(-1)
0.414865
0.092953
4.463169
0
MBB(-1)
0.018576
0.011681
1.590244
0.112
SIZE(-1)
0.44173
0.111992
3.944316
0.0001
PROFIT(-1)
0.005538
0.031169
0.177676
0.859
TANGG(-1)
0.566263
0.107396
5.272669
0
RISKFIRM(-1)
-0.00798
0.011989
-0.66587
0.5056
INFG(-1)
0.001063
0.005758
0.184514
0.8536
PROFIT*RISKFIRM(-1)
0.05002
0.016626
3.008544
0.0027
PROFIT*INFG(-1)
-0.01987
0.007485
-2.65453
0.008
@LEV(@ISPERIOD(“1383”))
0.024651
0.089106
0.276643
0.7821
@LEV(@ISPERIOD(“1384”))
-0.02156
0.092314
-0.2336
0.8153
@LEV(@ISPERIOD(“1385”))
0.028084
0.091649
0.306426
0.7593
@LEV(@ISPERIOD(“1386”))
-0.02973
0.075012
-0.39634
0.6919
@LEV(@ISPERIOD(“1387”))
0.03944
0.060859
0.648059
0.5171
@LEV(@ISPERIOD(“1388”))
-0.01044
0.061661
-0.16927
0.8656
@LEV(@ISPERIOD(“1389”))
0.028806
0.072022
0.399969
0.6892
@LEV(@ISPERIOD(“1390”))
0.002881
0.009864
0.292056
0.7703
@LEV(@ISPERIOD(“1391”))
-0.00336
0.066878
-0.05024
0.9599

Effects Specification

Cross-section fixed (first differences)

Period fixed (dummy variables)

Mean dependent var
0.006659
S.D. dependent var
0.08497
S.E. of regression
0.13332
Sum squared resid
23.51521
J-statistic
53.84187
Instrument rank
66
Prob(J-statistic)
0.260737

Arellano-Bond Serial Correlation Test

Equation: EQ02

Date: 12/31/14 Time: 15:18

Sample: 1380 1392

Included observations: 1341

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

AR(1)
-4.4127
-5.95778
1.350144
0
AR(2)
0.81065
0.710463
0.876412
0.4176

Dependent Variable: ACTUAL

Method: Panel Generalized Method of Moments
Transformation: First Differences

Date: 12/21/14 Time: 23:21

Sample (adjusted): 1385 1392

Periods included: 8

Cross-sections included: 153

Total panel (unbalanced) observations: 1189
White period instrument weighting matrix
White period standard errors & covariance (d.f. corrected)
Instrument specification: @DYN(ACTUAL,-2)
Constant added to instrument list

Variable
Coefficient
Std. Error
t-Statistic
Prob.

ACTUAL(-1)
0.397106
0.128652
3.086665
0.0021
ABOVE*DVT
0.336881
0.111282
3.027258
0.0025
BELOW*DVT
0.301733
0.129954
2.321839
0.0204

Effects Specification

Cross-section fixed (first differences)

Mean dependent var
-0.01244
S.D. dependent var
0.126007
S.E. of regression
0.146336
Sum squared resid
25.39716
J-statistic
41.1529
Instrument rank
36
Prob(J-statistic)
0.155839

Arellano-Bond Serial Correlation Test

Equation: EQ05

Date: 12/21/14 Time: 23:28

Sample: 1380 1392

Included observations: 1189

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

AR(1)
-6.90963
-10.405
1.505864
0
AR(2)
1.091826
0.979608
0.89722
0.2749

Dependent Variable: ACTUAL

Method: Panel Generalized Method of Moments
Transformation: First Differences

Date: 12/23/14 Time: 00:18

Sample (adjusted): 1385 1392

Periods included: 8

Cross-sections included: 153

Total panel (unbalanced) observations: 1189
White period instrument weighting matrix
White period standard errors & covariance (d.f. corrected)
Instrument specification: @DYN(ACTUAL,-2) ABOVE*DVT BELOW*DVT ABOVE*DVT*RISKFIRM(-1) BELOW*DVT*RISKFIRM(-1) ABOVE*DVT*INFG(-1) BELOW*DVT*INFG(-1)
Constant added to instrument list

Variable
Coefficient
Std. Error
t-Statistic
Prob.

ACTUAL(-1)
0.350419
0.043991
7.965715
0
ABOVE*DVT
0.359213
0.053914
6.662642
0
BELOW*DVT
0.172119
0.039431
4.365105
0
ABOVE*DVT*RISKFIRM(-1)
-0.00243
0.006128
-0.39569
0.6924
BELOW*DVT*RISKFIRM(-1)
-0.00682
0.001435
-4.74993
0
ABOVE*DVT*INFG(-1)
0.01074
0.003011
3.566194
0.0004
BELOW*DVT*INFG(-1)
0.002362
0.002354
1.003246
0.3159

Effects Specification

Cross-section fixed (first differences)

Mean dependent var
-0.01244
S.D. dependent var
0.126007
S.E. of regression
0.133533
Sum squared resid
21.07616
J-statistic
44.93759
Instrument rank
42
Prob(J-statistic)
0.121201

Arellano-Bond Serial Correlation Test

Equation: EQ06

Date: 12/23/14 Time: 00:19

Sample: 1380 1392

Included observations: 1189

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

AR(1)
-6.69628
-9.19352
1.37293
0
AR(2)
0.492878
0.410624
0.833116
0.6221

Dependent Variable: ACTUAL

Method: Panel Generalized Method of Moments
Transformation: First Differences

Sample (adjusted): 1385 1392

Cross-sections included: 153

Total panel (unbalanced) observations: 1189
White period instrument weighting matrix
Instrument specification: @DYN(ACTUAL,-2) ABOVE*DVT BELOW*DVT ABOVE*DVT*RISKFIRM(-1)*RFZERO(-1) ABOVE*DVT*RISKFIRM(-1)*RFLOW(-1) ABOVE*DVT*RISKFIRM(-1)*RFMED(-1) ABOVE*DVT*RISKFIRM(-1)*RFHIGH(-1) BELOW*DVT*RISKFIRM(-1)*RFZERO(-1) BELOW*DVT*RISKFIRM(-1)*RFLOW(-1) BELOW*DVT*RISKFIRM(-1)*RFMED(-1) BELOW*DVT*RISKFIRM(-1)*RFHIGH(-1) ABOVE*DVT*INFG(-1) *RMLOW(-1) ABOVE*DVT*INFG(-1)*RMZERO(-1) ABOVE*DVT*INFG(-1)*RMMED(-1) ABOVE*DVT*INFG(-1)*RMHIGH(-1) BELOW*DVT*INFG(-1)*RMZERO(-1) BELOW*DVT*INFG(-1)*RMLOW(-1) BELOW*DVT*INFG(-1) *RMMED(-1) BELOW*DVT*INFG(-1)*RMHIGH(-1)
Constant added to instrument list

Variable
Coefficient
Std. Error
t-Statistic
Prob.

ACTUAL(-1)
0.353394
0.044615
7.920928
0
ABOVE*DVT
0.334536
0.111495
3.000447
0.0028
BELOW*DVT
0.219363
0.052112
4.209458
0
ABOVE*DVT*RISKFIRM(-1)*RFZERO
0.1544
0.103187
1.496309
0.1348
ABOVE*DVT*RISKFIRM(-1)*RFLOW
0.037247
0.055402
0.672311
0.5015
ABOVE*DVT*RISKFIRM(-1)*RFMED
0.00975
0.033832
0.288197
0.7732
ABOVE*DVT*RISKFIRM(-1)*RFHIGH
0.006448
0.008275
0.779161
0.436
BELOW*DVT*RISKFIRM(-1)*RFZERO
0.1383
0.059486
2.324931
0.0202
BELOW*DVT*RISKFIRM(-1)*RFLOW
-0.01726
0.045178
-0.38193
0.7026
BELOW*DVT*RISKFIRM(-1)*RFMED
-0.01417
0.023901
-0.59278
0.5534
BELOW*DVT*RISKFIRM(-1)*RFHIGH
-0.00719
0.001493
-4.81771
0
ABOVE*DVT*INFG(-1)*RMLOW
0.010997
0.004076
2.698361
0.0071
ABOVE*DVT*INFG(-1)*RMZERO
0.001192
0.007548
0.157984
0.8745
ABOVE*DVT*INFG(-1)*RMMED
0.00399
0.006279
0.635452
0.5253
ABOVE*DVT*INFG(-1)*RMHIGH
-0.04529
0.037222
-1.21666
0.224
BELOW*DVT*INFG(-1)*RMZERO
0.001444
0.004794
0.3013
0.7632
BELOW*DVT*INFG(-1)*RMLOW
-0.00176
0.003048
-0.57674
0.5642
BELOW*DVT*INFG(-1)*RMMED
-0.00565
0.006769
-0.8345
0.4042
BELOW*DVT*INFG(-1)*RMHIGH
-0.06568
0.043929
-1.49508
0.1352

Effects Specification

Cross-section fixed (first differences)

Mean dependent var
-0.01244
S.D. dependent var
0.126007
S.E. of regression
0.134319
Sum squared resid
21.10861
J-statistic
41.17128
Instrument rank
54
Prob(J-statistic)
0.218604

Arellano-Bond Serial Correlation Test

Equation: EQ03

Date: 12/18/14 Time: 00:11

Sample: 1380 1392

Included observations: 1189

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

AR(1)
-6.45291
-9.25063
1.43356
0
AR(2)
0.613349
0.573603
0.935198
0.5396

Dependent Variable: ACTUAL

Method: Panel Generalized Method of Moments
Transformation: First Differences

Date: 12/23/14 Time: 00:46

Sample (adjusted): 1385 1392

Periods included: 8

Cross-sections included: 153

Total panel (unbalanced) observations: 1189
White period instrument weighting matrix
White period standard errors & covariance (d.f. corrected)

Instrument specification: @DYN(ACTUAL,-2) SUR DEF SUR*ABOVE*DVT DEF*ABOVE*DVT SUR*BELOW*DVT DEF*BELOW*DVT @LEV(@SYSPER)
Constant added to instrument list

Variable
Coefficient
Std. Error
t-Statistic
Prob.

ACTUAL(-1)
0.222489
0.038748
5.741951
0
SUR
0.107373
0.01657
6.479953
0
DEF
0.094925
0.017112
5.547333
0
SUR*ABOVE*DVT
0.404884
0.051866
7.806296
0
DEF*ABOVE*DVT
0.408975
0.050704
8.065861
0
SUR*BELOW*DVT
0.1621
0.047638
3.402729
0.0007
DEF*BELOW*DVT
0.018254
0.032922
0.554476
0.5794
@LEV(@ISPERIOD(“1385”))
-0.00071
0.009628
-0.07375
0.9412
@LEV(@ISPERIOD(“1386”))
-0.02335
0.007421
-3.14604
0.0017
@LEV(@ISPERIOD(“1387”))
0.014458
0.006995
2.066974
0.039
@LEV(@ISPERIOD(“1388”))
-0.00853
0.007649
-1.11551
0.2649
@LEV(@ISPERIOD(“1389”))
-0.00469
0.008308
-0.564
0.5729
@LEV(@ISPERIOD(“1390”))
-0.00071
0.007226
-0.09849
0.9216
@LEV(@ISPERIOD(“1391”))
-0.00412
0.007245
-0.56909
0.5694
@LEV(@ISPERIOD(“1392”))
-0.0491
0.00882
-5.56744
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
0.127908
Sum squared resid
19.20727
J-statistic
41.43027
Instrument rank
50
Prob(J-statistic)
0.210521

Arellano-Bond Serial Correlation Test

Equation: Untitled

Date: 12/23/14 Time: 00:48

Sample: 1380 1392

Included observations: 1189

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

AR(1)
-6.64423
-8.35416
1.257355
0
AR(2)
0.310558
0.249069
0.802003
0.7561

Dependent Variable: ACTUAL

Method: Panel Generalized Method of Moments
Transformation: First Differences

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

Sample (adjusted): 1385 1392

Periods included: 8

Cross-sections included: 153

Total panel (unbalanced) observations: 1189
White period instrument weighting matrix
White period standard errors & covariance (no d.f. correction)
Instrument specification: @DYN(ACTUAL,-2) SUR DEF SUR*ABOVE*DVT DEF*ABOVE*DVT SUR*BELOW*DVT

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