Table 4 Earnings surprise regression result

C

 + 

202.525

(183.85)

{0.2712}

−7.3374

(6.9808)

{0.2936}

ESUR

 + 

−94.9033

(104.02)

{0.320}

15.7767***

(5.0611)

{0.0019}

BVPS

 + 

0.0008

(0.0007)

{0.247}

0.0006*

(0.0006)

{0.0630}

EPS

 + 

92.9929

(103.83)

{0.3709}

24.3118***

(4.6339)

{0.000}

AR(1)

0.4061***

(0.0849)

{0.000}

R²

0.925

0.510

Adjusted R²

0.914

0. 5079

χ² Hausman

32.402(0.000)

F-statistic

80.815

233.2

Prob(F-stat)

0.000

0.000

Durbin–Watson

1.98

1.070