{\rtf1\par

\qc
Model 1: OLS, using observations 1-209\par
Dependent variable: SALARY\par
\par
{\trowd \trqc \trgaph30\trleft-30\trrh262\cellx1900\cellx3300\cellx4700\cellx6100\
cellx7500\cellx8000
\intbl \qc {\i }\cell \qc {\i Coefficient}\cell \qc {\i Std. Error}\cell \qc {\i
t-ratio}\cell \qc {\i p-value}\cell \ql \cell \intbl \row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx1900\cellx3300\cellx4700\cellx6100\
cellx7500\cellx8000
\intbl\ql const\cell \qc 963.191\cell \qc 213.240\cell \qc 4.517\cell \qc <0.0001\
cell \ql ***\cell \intbl \row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx1900\cellx3300\cellx4700\cellx6100\
cellx7500\cellx8000
\intbl\ql ROE\cell \qc 18.5012\cell \qc 11.1233\cell \qc 1.663\cell \qc 0.0978\cell
\ql *\cell \intbl \row
}

\par
{\trowd \trqc \trgaph30\trleft-30\trrh262\cellx2500\cellx3800\cellx4200\cellx6700\
cellx8000
\intbl\ql Mean dependent var\cell\qr 1281.120\cell \qc \cell\ql S.D. dependent
var\cell\qr 1372.345\cell\intbl\row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx2500\cellx3800\cellx4200\cellx6700\
cellx8000
\intbl\ql Sum squared resid\cell\qr 3.87e+08\cell \qc \cell\ql S.E. of regression\
cell\qr 1366.555\cell\intbl\row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx2500\cellx3800\cellx4200\cellx6700\
cellx8000
\intbl\ql R-squared\cell\qr 0.013189\cell \qc \cell\ql Adjusted R-squared\cell\qr
0.008421\cell\intbl\row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx2500\cellx3800\cellx4200\cellx6700\
cellx8000
\intbl\ql F(1, 207)\cell\qr 2.766532\cell \qc \cell\ql P-value(F)\cell\qr
0.097768\cell\intbl\row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx2500\cellx3800\cellx4200\cellx6700\
cellx8000
\intbl\ql Log-likelihood\cell\qr \u8722?1804.543\cell \qc \cell\ql Akaike
criterion\cell\qr 3613.087\cell\intbl\row
\trowd \trqc \trgaph30\trleft-30\trrh262\cellx2500\cellx3800\cellx4200\cellx6700\
cellx8000
\intbl\ql Schwarz criterion\cell\qr 3619.771\cell \qc \cell\ql Hannan-Quinn\cell\
qr 3615.789\cell\intbl\row
}