图片不知道为什么传不上来。。我把这个文档pdf传一下,在page13,有个results里面,The table shows means (across years) of the regression intercepts(Int) and slopes, and t-statistics for the means, t(Mn), defined as the mean divided by its standard error [the times-series standard deviation of the regression coefficient divided by (35)1/2].
这句话是什么意思呢,这文章是做一个横截面回归,然后对每年的变量系数和截距做了平均,那我应该怎样做均值t检验呢?作t检验是不是应该与一个已知均值做对比呢?或者我可以直接ttest varname吗?
今天不知道怎么了上传不了附件,拜托就这样看一下吧,数据不重要,它给出的形式就是这样 一个均值 一个t statistics,拜托了!!
Table 1
Estimates of regression (4) to explain the dividend payout ratio
Yt+1 /At+1 *
Int Yt+Il/At+l Vt/At E/At dAt/At RDDt RDt/At ln(At) TLt+1 R2 TP
Panel A: Regressions without interaction terms and reduced form regressions
Mean 0.012 0.21 0.25 0.46
t(Mn) 10.082 10.51 6.90 21.71
Mean 0.012 0.06 0.013 1.13 -0.35 0.004 -0.39 0.010 0.38 0.42
t(Mn) 18.943 3.61 3.293 12.82 -8.26 0.438 -3.33 3.232 9.24 23.83
Panel B: TLt+1 is target book leverage
Mean 0.012 0.08 0.019 0.93 -0.34 0.006 -0.49 0.006 0.05 0.39 0.41
t(Mn) 19.476 0.93 3.659 4.24 -8.31 0.756 -3.73 0.538 0.20 9.50 23.78
Mean 0.011 0.42 0.017 -0.33 0.029 -0.69 0.037 -0.91 0.38 0.41
t(Mn) 17.278 13.37 3.730 -8.03 2.322 -5.47 9.278 -10.22 9.33 24.16
Panel C: TLt+1 is target market leverage
Mean 0.012 0.18 -0.008 0.79 -0.34 0.007 -0.57 0.015 -0.17 0.39 0.41
t(Mean) 19.418 2.29 -0.540 4.18 -8.25 0.766 -3.84 3.209 -0.97 9.52 23.90
Mean 0.011 0.49 -0.050 -0.33 0.029 -0.86 0.026 -0.85 0.38 0.41
t(Mean) 17.343 12.43 -6.307 -7.83 2.305 -7.27 9.862 -10.27 9.35 24.19