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LAMPIRAN
Lampiran 1
DATA DEBT TO EQUITY RATIO
PERUSAHAAN MANUFAKTUR TAHUN 2010-2015
NO. NAMA PERUSAHAAN KODE DER
2010 2011 2012 2013 2014 2015
1 Asahimas Flat Glass Tbk AMFG 0.287451 0.25424 0.267932 0.282051 0.230402 0.259585 2 Arwana Citra Mulia Tbk ARNA 1.13635 0.72093 0.549846 0.477242 0.380326 0.617186 3 Astra International Indonesia
Tbk ASII 0.922967 1.024328 1.029461 1.015237 0.963831 0.939692 4 Astra Auto Part Tbk AUTO 0.361358 0.474568 0.619231 0.320013 0.418514 0.413636 5 Sepatu Bata Tbk BATA 0.460755 0.457484 0.481612 0.715207 0.820715 0.453355 6 Charoen Pokphand Indonesia
Tbk CPIN 0.454311 0.429558 0.510265 0.579977 0.893637 0.962304 7 Delta Djakarta Tbk DLTA 0.194191 0.215087 0.245891 0.281548 0.311742 0.222099 8 Darya Varia Laboratoria Tbk DVLA 0.333291 0.349453 0.276889 0.30104 0.310065 0.413572 9 Ekadharma International Tbk EKAD 0.63316 0.609211 0.426697 0.445481 0.53683 0.334736 10 Gudang Garam Tbk GGRM 0.4419 0.592148 0.560166 0.725924 0.757517 0.670847 11 Hanjaya Mandala Sampoerna
Tbk HMSP 1.009223 0.899308 0.97225 0.936032 1.102563 0.187239 12 Indofood Sukses Makmur Tbk INDF 0.767827 1.403296 0.739572 1.03509 1.13728 1.129595 13 Indospring Tbk INDS 2.400979 0.802636 0.464737 0.253102 0.252377 0.330838 14 Indocement Tunggal Prakasa
Tbk INTP 0.171408 0.153641 0.171815 0.15796 0.17527 0.158067 15 Kimia Farma Tbk KAEF 0.487648 0.432523 0.440374 0.521798 0.750518 0.737947 16 Kalbe Farma Tbk KLBF 0.218399 0.269895 0.277593 0.33119 0.27398 0.252154 17 Lion Metal Works Tbk LION 0.169166 0.211067 0.165824 0.199101 0.420799 0.405726 18 Lionmesh Prima Tbk LMSH 0.671476 0.714818 0.318093 0.282697 0.2526 0.189797 19 Merck Tbk MERK 0.197655 0.182538 0.366388 0.360643 0.3065 0.35499 20 Multi Bintang Indonesia Tbk MLBI 1.412302 1.302257 2.49261 0.804647 3.028644 1.74091 21 Mayora Indah Tbk MYOR 1.156294 1.721957 1.706295 1.465202 1.525633 1.183618 22 Supreme Cable Manufacturing
and Commerce Tbk SCCO 1.701371 1.803302 1.273427 1.490114 1.044569 0.922416 23 Semen Gresik Tbk SMGR 0.282409 0.345294 0.463215 0.41226 0.372996 0.390379 24 Selamat Sempurna Tbk SMSM 0.879768 0.695253 0.832963 0.689615 0.566351 0.541476 25 Taisho Pharmaceutical
Indonesia Tbk SQBB 0.189451 0.195888 0.220633 0.213614 0.245268 0.310615 26 Mandom Indonesia Tbk TCID 0.104122 0.108244 0.150208 0.239192 0.488359 0.214141 27 Surya Toto Indonesia Tbk TOTO 0.729975 0.761338 0.695306 0.686069 0.831625 0.671787 28 Trias Sentosa Tbk TRST 0.63941 0.607673 0.617252 0.90733 0.856759 0.715634 29 Unilever Indonesia Tbk UNVR 1.149068 1.847729 2.02013 2.137303 2.008665 2.258498
Lampiran 2
DATA RETURN ON EQUITY
PERUSAHAAN MANUFAKTUR TAHUN 2010-2015
NO. NAMA PERUSAHAAN KODE ROE
2010 2011 2012 2013 2014 2015
1 Asahimas Flat Glass Tbk AMFG 0.179591 0.157093 0.141065 0.122561 0.138888 0.095422 2 Arwana Citra Mulia Tbk ARNA 0.196015 0.198581 0.262371 0.309304 0.287076 0.080487 3 Astra International Indonesia
Tbk ASII 0.289731 0.277921 0.250072 0.223264 0.184354 0.130037 4 Astra Auto Part Tbk AUTO 0.298626 0.233243 0.196246 0.110685 0.11317 0.113391 5 Sepatu Bata Tbk BATA 0.183932 0.159713 0.178955 0.111812 0.167402 0.2367 6 Charoen Pokphand Indonesia
Tbk CPIN 0.49528 0.381696 0.327877 0.254117 0.158613 0.14451 7 Delta Djakarta Tbk DLTA 0.246168 0.264803 0.356765 0.399816 0.379406 0.226036 8 Darya Varia Laboratoria Tbk DVLA 0.173087 0.166111 0.176926 0.137527 0.086121 0.110818 9 Ekadharma International Tbk EKAD 0.209371 0.1771 0.188549 0.165961 0.152983 0.161117 10 Gudang Garam Tbk GGRM 0.197689 0.201952 0.152926 0.149031 0.163958 0.169776 11 Hanjaya Mandala Sampoerna
Tbk HMSP 0.628729 0.790491 0.747294 0.764285 0.75426 0.323691 12 Indofood Sukses Makmur Tbk INDF 0.310218 0.534936 0.139995 0.089037 0.129847 0.086024 13 Indospring Tbk INDS 0.309431 0.190455 0.117958 0.08421 0.068773 0.069027 14 Indocement Tunggal Prakasa
Tbk INTP 0.246148 0.228901 0.245299 0.227088 0.210174 0.178438 15 Kimia Farma Tbk KAEF 0.160328 0.185234 0.142739 0.132756 0.149811 0.135853 16 Kalbe Farma Tbk KLBF 0.232817 0.233728 0.240801 0.231819 0.217396 0.188119 17 Lion Metal Works Tbk LION 0.148622 0.173922 0.229603 0.155756 0.114365 0.101321 18 Lionmesh Prima Tbk LMSH 0.157102 0.1905 0.423297 0.130192 0.067544 0.017289 19 Merck Tbk MERK 0.327242 0.46776 0.258693 0.342518 0.334679 0.301018 20 Multi Bintang Indonesia Tbk MLBI 0.939924 0.956841 1.374567 1.186015 1.423007 0.6483 21 Mayora Indah Tbk MYOR 0.244909 0.199403 0.242655 0.268719 0.100445 0.240686 22 Supreme Cable Manufacturing
and Commerce Tbk SCCO 0.142273 0.211508 0.259525 0.148333 0.169908 0.172514 23 Semen Gresik Tbk SMGR 0.301515 0.270629 0.271218 0.245565 0.222662 0.164917 24 Selamat Sempurna Tbk SMSM 0.290392 0.326955 0.279782 0.335938 0.376186 0.320297 25 Taisho Pharmaceutical
Indonesia Tbk SQBB 0.344329 0.396889 0.415689 0.430832 0.446782 0.42425 26 Mandom Indonesia Tbk TCID 0.138585 0.137489 0.137099 0.135376 0.140419 0.317501 27 Surya Toto Indonesia Tbk TOTO 0.307136 0.286801 0.262697 0.228414 0.262757 0.191236 28 Trias Sentosa Tbk TRST 0.110444 0.108564 0.04542 0.019281 0.017226 0.012936 29 Unilever Indonesia Tbk UNVR 0.835952 1.131316 1.21943 1.258059 1.248647 1.212216
Lampiran 3
DATA DIVIDEND PAYOUT RATIO
PERUSAHAAN MANUFAKTUR TAHUN 2010-2015
NO. NAMA PERUSAHAAN KODE DPR
2010 2011 2012 2013 2014 2015
1 Asahimas Flat Glass Tbk AMFG 0.052451 0.103028 0.100171 0.102613 0.078498 0.107325 2 Arwana Citra Mulia Tbk ARNA 0.162546 0.290118 0.233776 0.311505 0.450248 1.23821 3 Astra International Indonesia
Tbk ASII 0.309515 0.388765 0.435174 0.422895 0.452498 0.643612 4 Astra Auto Part Tbk AUTO 0.400273 0.408826 0.291915 0.524555 0.304513 0.26037 5 Sepatu Bata Tbk BATA 0.505289 0.594259 0.523989 0.788971 0.540648 0.056409 6 Charoen Pokphand Indonesia
Tbk CPIN 0.290006 0.27625 0.2569 0.2983 0.432089 0.161063
7 Delta Djakarta Tbk DLTA 1.041483 1.134617 0.881567 0.710362 0.693792 0.531537 8 Darya Varia Laboratoria Tbk DVLA 0.227273 0.277881 0.216777 0.418455 0.301972 0.723996 9 Ekadharma International Tbk EKAD 0.063978 0.171033 0.135133 0.141703 0.153446 0.133694 10 Gudang Garam Tbk GGRM 0.303895 0.34841 0.48704 0.358577 0.291361 0.242989 11 Hanjaya Mandala Sampoerna
Tbk HMSP 1.04141 1.000036 0.683102 0.919262 1.046125 1.182102 12 Indofood Sukses Makmur Tbk INDF 0.207527 0.238732 0.321496 0.637111 0.331702 0.552865 13 Indospring Tbk INDS 0.138992 0.000273 0.26852 1.013665 0.418827 0.272478 14 Indocement Tunggal Prakasa
Tbk INTP 0.256855 0.268821 0.226436 0.317472 0.641397 1.164623 15 Kimia Farma Tbk KAEF 0.104988 0.119579 0.166955 0.14269 0.208876 0.185495 16 Kalbe Farma Tbk KLBF 0.196525 0.472471 0.557849 0.494753 0.381373 0.440681 17 Lion Metal Works Tbk LION 0.16831 0.198024 0.182784 0.32128 0.427131 0.451518 18 Lionmesh Prima Tbk LMSH 0.039184 0.044049 0.023255 0.100125 0.252465 0.493827 19 Merck Tbk MERK 0.925649 0.432577 1.718314 0.455804 0.76861 1.540005 20 Multi Bintang Indonesia Tbk MLBI 0.399291 0.883652 1.441704 0.432939 1.550083 0.585149 21 Mayora Indah Tbk MYOR 0.169434 0.20612 0.133869 0.17263 0.502298 0.119254 22 Supreme Cable Manufacturing
and Commerce Tbk SCCO 0.10116 0.168471 0.205897 0.489661 0.22408 0.258402 23 Semen Gresik Tbk SMGR 0.503557 0.375514 0.401093 0.413007 0.435828 0.494161 24 Selamat Sempurna Tbk SMSM 0.247904 0.205875 0.735001 0.361809 0.528631 0.390107 25 Taisho Pharmaceutical
Indonesia Tbk SQBB 0.939531 0.724977 0.83284 0.856067 0.869861 1.090761 26 Mandom Indonesia Tbk TCID 0.489492 0.487278 0.494734 0.464537 0.42311 0.144022 27 Surya Toto Indonesia Tbk TOTO 0.306424 0.338221 0.419912 0.41265 0.500976 0.403976 28 Trias Sentosa Tbk TRST 0.308059 0.389997 0.913869 0.851813 0.46404 0.554634 29 Unilever Indonesia Tbk UNVR 0.899464 1.08835 0.939728 0.946511 0.910185 0.988334
Lampiran 4
DATA SIZE
PERUSAHAAN MANUFAKTUR TAHUN 2010-2015
NO. NAMA PERUSAHAAN KODE LN TOTAL ASSETS
2010 2011 2012 2013 2014 2015 1 Asahimas Flat Glass Tbk AMFG 28.50 28.62 28.77 28.89 29.00 29.08 2 Arwana Citra Mulia Tbk ARNA 27.50 27.45 27.57 27.76 27.86 27.99 3 Astra International Indonesia
Tbk ASII 32.36 32.66 32.84 33.00 33.09 33.13
4 Astra Auto Part Tbk AUTO 29.35 29.57 29.82 30.17 30.30 30.29 5 Sepatu Bata Tbk BATA 26.91 26.97 27.08 27.25 27.38 27.40 6 Charoen Pokphand Indonesia
Tbk CPIN 29.51 29.81 30.14 30.39 30.67 30.84
7 Delta Djakarta Tbk DLTA 27.29 27.27 27.34 27.49 27.62 27.67 8 Darya Varia Laboratoria Tbk DVLA 27.47 27.56 27.70 27.81 27.84 27.95 9 Ekadharma International Tbk EKAD 26.04 26.19 26.34 25.46 26.74 26.69 10 Gudang Garam Tbk GGRM 31.06 31.30 31.36 31.56 31.70 31.78 11 Hanjaya Mandala Sampoerna
Tbk HMSP 30.65 30.60 30.90 30.94 30.98 31.27
12 Indofood Sukses Makmur Tbk INDF 31.49 31.61 31.71 31.99 32.08 32.15 13 Indospring Tbk INDS 27.37 27.76 28.14 28.42 28.46 28.57 14 Indocement Tunggal Prakasa
Tbk INTP 30.36 30.53 30.76 30.91 30.99 30.95 22 Supreme Cable Manufacturing
and Commerce Tbk SCCO 27.78 28.01 28.03 28.20 28.14 28.20
Lampiran 5
DATA PRICE TO BOOK VALUE
PERUSAHAAN MANUFAKTUR TAHUN 2010-2015
NO. NAMA PERUSAHAAN KODE PBV
2010 2011 2012 2013 2014 2015
1 Asahimas Flat Glass Tbk AMFG 1.365872 1.325145 1.466044 1.100435 1.097046 0.905707 2 Arwana Citra Mulia Tbk ARNA 1.639061 1.386471 4.976764 7.833519 7.001573 4.646853 3 Astra International Indonesia
Tbk ASII 3.759399 3.95024 3.322875 2.528945 2.393908 2.236637 4 Astra Auto Part Tbk AUTO 2.621803 2.775767 2.600935 1.472326 1.596643 1.14038 5 Sepatu Bata Tbk BATA 2.650916 2.017039 2.012966 3.472318 3.375259 2.56585 6 Charoen Pokphand Indonesia
Tbk CPIN 6.731833 5.696077 7.32012 5.561633 5.631766 3.361988 7 Delta Djakarta Tbk DLTA 3.238486 3.116356 6.825955 8.994081 8.213011 4.900334 8 Darya Varia Laboratoria Tbk DVLA 2.045576 1.769433 2.248921 2.693773 1.997754 1.495455 9 Ekadharma International Tbk EKAD 1.138588 1.325185 1.273961 1.146463 1.343266 0.957354 10 Gudang Garam Tbk GGRM 3.609874 4.862939 4.071537 2.747177 3.5248 2.784285 11 Hanjaya Mandala Sampoerna
Tbk HMSP 12.07792 16.75559 19.72749 19.32169 23.66326 12.8686 12 Indofood Sukses Makmur Tbk INDF 3.374691 4.416905 1.504544 1.510193 1.471609 1.053734 13 Indospring Tbk INDS 1.739555 1.245554 1.164027 0.801188 0.576079 0.119689 14 Indocement Tunggal Prakasa
Tbk INTP 4.481906 3.989144 4.255871 3.20418 3.744588 3.443546 15 Kimia Farma Tbk KAEF 0.792692 1.507667 2.851104 2.017331 4.727624 2.594915 16 Kalbe Farma Tbk KLBF 5.718559 5.299385 6.740374 6.893435 8.785394 5.656752 17 Lion Metal Works Tbk LION 0.760444 0.904072 1.45488 1.501241 1.135739 1.200887 18 Lionmesh Prima Tbk LMSH 0.984931 0.839131 1.033581 0.695224 0.549945 0.490924 19 Merck Tbk MERK 5.954558 6.005897 8.170062 8.265231 6.585282 3.204778 20 Multi Bintang Indonesia Tbk MLBI 12.29018 14.26473 47.26893 25.6032 45.46549 22.54123 21 Mayora Indah Tbk MYOR 4.039274 4.505284 4.997532 5.903647 4.584672 5.251291 22 Supreme Cable Manufacturing
and Commerce Tbk SCCO 0.935499 1.237257 1.273023 1.278339 1.002593 0.830267 23 Semen Gresik Tbk SMGR 4.618821 4.646969 5.175632 3.849344 3.842867 2.46419 24 Selamat Sempurna Tbk SMSM 2.713591 2.919646 3.994163 4.933316 6.094203 4.758086 25 Taisho Pharmaceutical
Indonesia Tbk SQBB 0.397088 0.35318 0.328366 8.912735 8.6888 9.713604 26 Mandom Indonesia Tbk TCID 1.526316 1.517243 2.016494 2.022581 2.814069 1.934606 27 Surya Toto Indonesia Tbk TOTO 3.061742 3.256629 3.667642 3.682974 3.497476 4.808715 28 Trias Sentosa Tbk TRST 0.612417 0.825621 0.716013 0.410604 0.607502 0.444821 29 Unilever Indonesia Tbk UNVR 31.09399 38.96943 40.08842 46.62641 51.92211 58.48124
Lampiran 6
Tabel Pemilihan Sampel Perusahaan Manufaktur
No. Nama Kode Kriteria
37 Ever Shine Textile Industry Tbk ESTI 0 - - -
81 Lion Metal Works Tbk LION 0 0 0 17
108 Surabaya Agung Industri Pulp &
Kertas Tbk
SAIP - - - -
109 Supreme Cable Manufacturing And Commerce Tbk
SCCO 0 0 0 22
110 Schering Plough Indonesia Tbk SCPI 0 - - -
111 Sekawan Intipratama Tbk SIAP 0 - - -
112 Industri Jamu Dan Farmasi Sido Muncul Tbk
123 Taisho Pharmaceutical Indonesia Tbk
SQBB 0 0 0 25
124 Sri Rejeki Isman Tbk SRIL - - - -
125 Indo Acitama Tbk SRSN 0 0 0 -
126 Sunson Textile Manufacturer Tbk SSTM 0 - - -
127 Siantar Top Tbk STTP 0 0 0 -
128 Slj Global Tbk SULI 0 - - -
129 Tunas Alfin Tbk TALF - - - -
130 Tembaga Mulia Semanan Tbk TBMS 0 - - -
131 Mandom Indonesia Tbk TCID 0 0 0 26
132 Tirta Mahakam Resources Tbk TIRT 0 - - -
133 Pabrik Kertas Tjiwi Kimia Tbk TKIM 0 0 - -
134 Surya Toto Indonesia Tbk TOTO 0 0 0 27
135 Chandra Asri Petrochemical TPIA 0 - - -
136 Trisula International Tbk TRIS - - - -
137 Trias Sentosa Tbk TRST 0 0 0 28
138 Tempo Scan Pasific Tbk TSPC 0 - - -
139 Ultrajaya Milk Industry And Trading Company Tbk
ULTJ 0 0 0 -
140 Unggul Indah Cahaya Tbk UNIC 0 - - -
141 Nusantara Inti Corpora Tbk UNIT 0 0 0 -
142 Unitex Tbk UNTX - - - -
143 Unilever Indonesia Tbk UNVR 0 0 0 29
144 Voksel Electric Tbk VOKS 0 - - -
145 Wismilak Inti Makmur Tbk WIIM - - - -
146 Wijaya Karya Beton Tbk WTON - - - -
147 Yana Prima Hasta Persada Tbk YPAS 0 - - -
0
(Uji Normalitas Sebelum Transformasi Data)
(Uji Normalitas Setelah Transformasi Data)
0
b. Uji Heterokedastisitas
Heteroskedasticity Test: Breusch-Pagan-Godfrey
F-statistic 1.744676 Prob. F(4,169) 0.1424
Obs*R-squared 6.900236 Prob. Chi-Square(4) 0.1413 Scaled explained SS 5.797299 Prob. Chi-Square(4) 0.2148
Test Equation:
Dependent Variable: RESID^2 Method: Least Squares Date: 03/24/17 Time: 17:45 Sample: 1 174
Included observations: 174
Variable Coefficient Std. Error t-Statistic Prob.
C 0.142473 0.834876 0.170651 0.8647
X1 -0.018621 0.022168 -0.839983 0.4021
X2 -0.064699 0.028730 -2.251940 0.0256
X3 0.002482 0.018786 0.132123 0.8950
X4 -0.022882 0.449557 -0.050899 0.9595
R-squared 0.039657 Mean dependent var 0.068623 Adjusted R-squared 0.016927 S.D. dependent var 0.091850 S.E. of regression 0.091069 Akaike info criterion -1.926080 Sum squared resid 1.401618 Schwarz criterion -1.835302 Log likelihood 172.5689 Hannan-Quinn criter. -1.889255 F-statistic 1.744676 Durbin-Watson stat 1.702920 Prob(F-statistic) 0.142440
c. Uji Multikolinieritas
X1 X2 X3 X4
X1 1.000000 -0.093739 -0.027410 -0.366897 X2 -0.093739 1.000000 -0.419025 0.089792 X3 -0.027410 -0.419025 1.000000 -0.167020 X4 -0.366897 0.089792 -0.167020 1.000000
d. Uji Auto Korelasi
Variable Coefficient Std. Error t-Statistic Prob.
X1 0.090159 0.064702 1.393458 0.1653 Adjusted R-squared 0.627923 S.D. dependent var 0.435762 S.E. of regression 0.265806 Akaike info criterion 0.216218 Sum squared resid 11.94037 Schwarz criterion 0.306996 Log likelihood -13.81097 Hannan-Quinn criter. 0.253043 F-statistic 73.98930 Durbin-Watson stat 1.053026 Prob(F-statistic) 0.000000
2. Analisis Statistik Deskriptif
PBV DER ROE PBV SIZE
3. Pemilihan Model Data Panel
a. Common Effect Model
Dependent Variable: Y?
Total pool (balanced) observations: 174
Variable Coefficient Std. Error t-Statistic Prob.
X1? 0.090159 0.064702 1.393458 0.1653 Adjusted R-squared 0.627923 S.D. dependent var 0.435762 S.E. of regression 0.265806 Akaike info criterion 0.216218 Sum squared resid 11.94037 Schwarz criterion 0.306996 Log likelihood -13.81097 Hannan-Quinn criter. 0.253043 F-statistic 73.98930 Durbin-Watson stat 0.868072 Prob(F-statistic) 0.000000
Total pool (balanced) observations: 174
Variable Coefficient Std. Error t-Statistic Prob.
X1? 0.157597 0.084059 1.874831 0.0629
_8--C 0.047091 Adjusted R-squared 0.792087 S.D. dependent var 0.435762 S.E. of regression 0.198696 Akaike info criterion -0.225062 Sum squared resid 5.566719 Schwarz criterion 0.374069 Log likelihood 52.58040 Hannan-Quinn criter. 0.017982 F-statistic 21.59618 Durbin-Watson stat 1.764285 Prob(F-statistic) 0.000000
c. Random Effect Model
Dependent Variable: Y?
Method: Pooled EGLS (Cross-section random effects) Date: 03/24/17 Time: 18:02
Sample: 2010 2015 Included observations: 6 Cross-sections included: 29
Total pool (balanced) observations: 174
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob.
X1? 0.120929 0.072545 1.666956 0.0974
_1--C -0.279836
Cross-section random 0.185171 0.4648
Idiosyncratic random 0.198696 0.5352
Weighted Statistics
R-squared 0.692375 Mean dependent var 0.410966 Adjusted R-squared 0.685094 S.D. dependent var 0.354912 S.E. of regression 0.199164 Sum squared resid 6.703611 F-statistic 95.09251 Durbin-Watson stat 1.504742 Prob(F-statistic) 0.000000
Unweighted Statistics
R-squared 0.629292 Mean dependent var 1.024203 Sum squared resid 12.17800 Durbin-Watson stat 0.828314
d. Uji Chow (CEM vs FEM)
Redundant Fixed Effects Tests Pool: DATAPANEL
Test cross-section fixed effects
Effects Test Statistic d.f. Prob.
Cross-section F 5.765674 (28,141) 0.0000
Cross-section Chi-square 132.782756 28 0.0000
Cross-section fixed effects test equation:
Dependent Variable: Y?
Total pool (balanced) observations: 174
Variable Coefficient Std. Error t-Statistic Prob.
C -10.30920 2.436777 -4.230670 0.0000 Adjusted R-squared 0.627923 S.D. dependent var 0.435762 S.E. of regression 0.265806 Akaike info criterion 0.216218 Sum squared resid 11.94037 Schwarz criterion 0.306996 Log likelihood -13.81097 Hannan-Quinn criter. 0.253043 F-statistic 73.98930 Durbin-Watson stat 0.868072 Prob(F-statistic) 0.000000
e. Uji Hausman (FEM vs REM)
Correlated Random Effects - Hausman Test Pool: DATAPANEL
Test cross-section random effects
Test Summary
Chi-Sq.
Statistic Chi-Sq. d.f. Prob.
Cross-section random 4.796455 4 0.3088
Cross-section random effects test comparisons:
Variable Fixed Random Var(Diff.) Prob.
X1? 0.157597 0.120929 0.001803 0.3879
X2? 0.917557 0.965458 0.001603 0.2316
X3? -0.198240 -0.253610 0.000839 0.0560
X4? 13.161752 8.331112 7.062659 0.0691
Cross-section random effects test equation:
Dependent Variable: Y?
Method: Panel Least Squares Date: 03/24/17 Time: 18:09 Sample: 2010 2015
Included observations: 6 Cross-sections included: 29
Total pool (balanced) observations: 174
Variable Coefficient Std. Error t-Statistic Prob.
C -23.30164 6.116451 -3.809666 0.0002
X1? 0.157597 0.084059 1.874831 0.0629
X2? 0.917557 0.083934 10.93191 0.0000
X3? -0.198240 0.058460 -3.391006 0.0009
X4? 13.16175 3.314023 3.971533 0.0001
Effects Specification Cross-section fixed (dummy variables)
R-squared 0.830545 Mean dependent var 1.024203 Adjusted R-squared 0.792087 S.D. dependent var 0.435762 S.E. of regression 0.198696 Akaike info criterion -0.225062 Sum squared resid 5.566719 Schwarz criterion 0.374069 Log likelihood 52.58040 Hannan-Quinn criter. 0.017982 F-statistic 21.59618 Durbin-Watson stat 1.764285 Prob(F-statistic) 0.000000
4. Analisis Regresi Data Panel
a. Uji-t
Dependent Variable: PBV_Y?
Method: Pooled EGLS (Cross-section random effects) Date: 02/25/17 Time: 12:57
Sample: 2010 2015 Included observations: 6 Cross-sections included: 29
Total pool (balanced) observations: 174
Swamy and Arora estimator of component variances
Variable Coefficient Std. Error t-Statistic Prob.
DER_X1? 0.120929 0.072545 1.666956 0.0974
ROE_X2? 0.965458 0.073767 13.08789 0.0000
DPR_X3? -0.253610 0.050777 -4.994596 0.0000
SIZE_X4? 8.331112 1.979922 4.207798 0.0000
C -14.37913 3.661991 -3.926587 0.0001
b. Uji-F
R-squared 0.692375 Mean dependent var 0.410966 Adjusted R-squared 0.685094 S.D. dependent var 0.354912 S.E. of regression 0.199164 Sum squared resid 6.703611 F-statistic 95.09251 Durbin-Watson stat 1.504742 Prob(F-statistic) 0.000000
c. Uji Koefisien Determinasi (R2)
R-squared 0.692375 Mean dependent var 0.410966 Adjusted R-squared 0.685094 S.D. dependent var 0.354912 S.E. of regression 0.199164 Sum squared resid 6.703611 F-statistic 95.09251 Durbin-Watson stat 1.504742 Prob(F-statistic) 0.000000
