Table 8.
Regression Models: Effect of OHSMS on Contemporaneous Financial Performance
| Dependent Variables | |||
|---|---|---|---|
| ROA | ROE | EPS | |
| Independent variable | |||
| OHSMS | 0.0237*** | 0.0615** | 0.0359** |
| Control variable | |||
| Size | 0.0359 | −0.0019 | 0.5764** |
| Constant | 0.1316*** | 0.0075 | 0.0578** |
| Adjusted R2 | 0.3958 | 0.0102 | 0.6026 |
| F-statistics | 6.4340*** | 3.853 | 8.5542*** |
| Durbin–Watson | 1.7091 | 2.8329 | 1.8371 |
| Hausman specification test | 25.6841 *** | 1.952 | 23.972 *** |
| Observations | 1125 | 1125 | 1125 |
Notes: ***p < 0.01; **p < 0.05; The 95% CI: ROA as dependent variable (0.0196,0.0279), ROE as dependent variable (0.0493,0.0738), EPS as dependent variable (0.0151,0.0567).
Abbreviations: ROA, return on assets; ROI, return on equity; EPS, earnings per share; LNTA, natural logarithm of total assets; CI, confidence interval.