Table 4 The estimators for pecking order model for the full sample
From: Testing the pecking order theory of capital structure: the case of Islamic financing modes
Net debt issued | Net Sukuk issued | Total debt issued | Net equity issued | |
|---|---|---|---|---|
(1) | (2) | (3) | (4) | |
α | 0.006*** (3.61) | 0.001 (1.48) | 0.008*** (3.82) | 0.009 (1.44) |
β | 0.543*** (35.95) | 0.071*** (8.87) | 0.614*** (35.37) | 0.359*** (9.88) |
N | 726 | 726 | 726 | 726 |
R2 | 0.627 | 0.092 | 0.619 | 0.157 |
F | 1292.36*** | 78.59*** | 1250.97*** | 97.29*** |
F test (ui = 0) | 1.29 | 1.03 | 1.20 | 0.98 |
Chow test | 1.06 | 1.34 | 1.18 | 1.45 |
B–P LM test | 0.74 | 0.89 | 0.79 | 0.97 |