Regression

Correlations

MAAR x1 x2 x3 x4 x5

Pearson Correlation

MAAR 1.000 -.067 -.168 -.129 -.274 -.033

x1 -.067 1.000 -.236 -.014 -.133 -.349

x2 -.168 -.236 1.000 -.039 .461 .415

x3 -.129 -.014 -.039 1.000 .107 -.149

x4 -.274 -.133 .461 .107 1.000 .137

x5 -.033 -.349 .415 -.149 .137 1.000

x6 -.068 .189 -.365 -.096 -.234 -.283

x7 -.257 .109 .582 -.007 .524 .099

x8 -.126 .043 .105 -.059 .170 .355

x9 -.114 -.164 -.007 -.059 .172 .144

x10 -.134 -.133 -.285 .470 -.196 -.232

x11 .312 .040 -.124 -.230 -.004 -.138

x12 .061 -.105 .290 -.195 .117 .168

x13 -.063 .175 -.076 .076 -.090 -.098

x14 -.089 .126 -.083 -.088 -.108 -.095

x15 -.079 .113 -.071 -.055 .014 -.029

x16 -.070 .472 -.082 .126 -.029 -.110

x17 -.104 .073 .240 -.055 -.007 .002

x18 .158 -.116 .171 -.078 -.018 .092

Sig. (1-tailed)

MAAR . .330 .132 .196 .033 .413

x1 .330 . .057 .463 .188 .009

x2 .132 .057 . .399 .001 .002

x3 .196 .463 .399 . .239 .162

x4 .033 .188 .001 .239 . .181

x5 .413 .009 .002 .162 .181 .

x6 .327 .104 .006 .264 .059 .029

x7 .042 .235 .000 .482 .000 .256

x8 .203 .389 .243 .349 .130 .008

x9 .224 .138 .482 .349 .126 .170

x10 .188 .189 .027 .000 .096 .060

x11 .017 .396 .207 .062 .491 .180

x12 .344 .243 .025 .097 .220 .132

x13 .338 .122 .309 .307 .277 .258

x14 .279 .201 .293 .281 .237 .265

x15 .300 .227 .321 .358 .463 .425

x16 .323 .000 .295 .202 .424 .233

Correlations

x6 x7 x8 x9 x10 x11

Pearson Correlation

MAAR -.068 -.257 -.126 -.114 -.134 .312

x1 .189 .109 .043 -.164 -.133 .040

x2 -.365 .582 .105 -.007 -.285 -.124

x3 -.096 -.007 -.059 -.059 .470 -.230

x4 -.234 .524 .170 .172 -.196 -.004

x5 -.283 .099 .355 .144 -.232 -.138

x6 1.000 -.339 -.100 -.365 .278 .090

x7 -.339 1.000 .257 -.067 -.336 -.082

x8 -.100 .257 1.000 -.070 -.175 -.130

x9 -.365 -.067 -.070 1.000 -.175 -.130

x10 .278 -.336 -.175 -.175 1.000 -.326

x11 .090 -.082 -.130 -.130 -.326 1.000

x12 .091 .067 -.121 -.121 -.303 -.226

x13 -.082 .003 -.039 -.039 -.099 -.074

x14 .143 -.125 -.039 -.039 -.099 -.074

x15 -.097 .035 -.039 -.039 -.099 -.074

x16 -.040 .227 -.039 -.039 -.099 -.074

x17 .025 .110 -.056 -.056 -.141 -.105

x18 -.312 .292 -.070 -.070 -.175 -.130

Sig. (1-tailed)

MAAR .327 .042 .203 .224 .188 .017

x1 .104 .235 .389 .138 .189 .396

x2 .006 .000 .243 .482 .027 .207

x3 .264 .482 .349 .349 .000 .062

x4 .059 .000 .130 .126 .096 .491

x5 .029 .256 .008 .170 .060 .180

x6 . .010 .255 .006 .031 .276

x7 .010 . .042 .328 .011 .293

x8 .255 .042 . .322 .123 .194

x9 .006 .328 .322 . .123 .194

x10 .031 .011 .123 .123 . .013

x11 .276 .293 .194 .194 .013 .

x12 .274 .329 .211 .211 .020 .065

x13 .294 .492 .398 .398 .257 .314

x14 .172 .204 .398 .398 .257 .314

x15 .260 .409 .398 .398 .257 .314

x16 .397 .064 .398 .398 .257 .314

Correlations

x12 x13 x14 x15 x16 x17

Pearson Correlation

MAAR .061 -.063 -.089 -.079 -.070 -.104

x1 -.105 .175 .126 .113 .472 .073

x2 .290 -.076 -.083 -.071 -.082 .240

x3 -.195 .076 -.088 -.055 .126 -.055

x4 .117 -.090 -.108 .014 -.029 -.007

x5 .168 -.098 -.095 -.029 -.110 .002

x6 .091 -.082 .143 -.097 -.040 .025

x7 .067 .003 -.125 .035 .227 .110

x8 -.121 -.039 -.039 -.039 -.039 -.056

x9 -.121 -.039 -.039 -.039 -.039 -.056

x10 -.303 -.099 -.099 -.099 -.099 -.141

x11 -.226 -.074 -.074 -.074 -.074 -.105

x12 1.000 -.068 -.068 -.068 -.068 -.098

x13 -.068 1.000 -.022 -.022 -.022 -.032

x14 -.068 -.022 1.000 -.022 -.022 -.032

x15 -.068 -.022 -.022 1.000 -.022 -.032

x16 -.068 -.022 -.022 -.022 1.000 -.032

x17 -.098 -.032 -.032 -.032 -.032 1.000

x18 -.121 -.039 -.039 -.039 -.039 -.056

Sig. (1-tailed)

MAAR .344 .338 .279 .300 .323 .246

x1 .243 .122 .201 .227 .000 .315

x2 .025 .309 .293 .321 .295 .054

x3 .097 .307 .281 .358 .202 .358

x4 .220 .277 .237 .463 .424 .481

x5 .132 .258 .265 .425 .233 .494

x6 .274 .294 .172 .260 .397 .435

x7 .329 .492 .204 .409 .064 .233

x8 .211 .398 .398 .398 .398 .355

x9 .211 .398 .398 .398 .398 .355

x10 .020 .257 .257 .257 .257 .175

x11 .065 .314 .314 .314 .314 .243

x12 . .326 .326 .326 .326 .259

x13 .326 . .442 .442 .442 .417

x14 .326 .442 . .442 .442 .417

x15 .326 .442 .442 . .442 .417

x16 .326 .442 .442 .442 . .417

Correlations

x18

Pearson Correlation

MAAR .158

x1 -.116

x2 .171

x3 -.078

x4 -.018

x5 .092

x6 -.312

x7 .292

x8 -.070

x9 -.070

x10 -.175

x11 -.130

x12 -.121

x13 -.039

x14 -.039

x15 -.039

x16 -.039

x17 -.056

x18 1.000

Sig. (1-tailed)

MAAR .148

x1 .220

x2 .128

x3 .303

x4 .454

x5 .271

x6 .017

x7 .024

x8 .322

x9 .322

x10 .123

x11 .194

x12 .211

x13 .398

x14 .398

x15 .398

x16 .398

Correlations

MAAR x1 x2 x3 x4 x5

Sig. (1-tailed) x17 .246 .315 .054 .358 .481 .494

x18 .148 .220 .128 .303 .454 .271

N

MAAR 46 46 46 46 46 46

x1 46 46 46 46 46 46

x2 46 46 46 46 46 46

x3 46 46 46 46 46 46

x4 46 46 46 46 46 46

x5 46 46 46 46 46 46

x6 46 46 46 46 46 46

x7 46 46 46 46 46 46

x8 46 46 46 46 46 46

x9 46 46 46 46 46 46

x10 46 46 46 46 46 46

x11 46 46 46 46 46 46

x12 46 46 46 46 46 46

x13 46 46 46 46 46 46

x14 46 46 46 46 46 46

x15 46 46 46 46 46 46

x16 46 46 46 46 46 46

x17 46 46 46 46 46 46

x18 46 46 46 46 46 46

Correlations

x6 x7 x8 x9 x10 x11

Sig. (1-tailed) x17 .435 .233 .355 .355 .175 .243

x18 .017 .024 .322 .322 .123 .194

N

MAAR 46 46 46 46 46 46

x1 46 46 46 46 46 46

x2 46 46 46 46 46 46

x3 46 46 46 46 46 46

x4 46 46 46 46 46 46

x5 46 46 46 46 46 46

x6 46 46 46 46 46 46

x7 46 46 46 46 46 46

x8 46 46 46 46 46 46

x9 46 46 46 46 46 46

x10 46 46 46 46 46 46

x11 46 46 46 46 46 46

x12 46 46 46 46 46 46

x13 46 46 46 46 46 46

x14 46 46 46 46 46 46

x15 46 46 46 46 46 46

x16 46 46 46 46 46 46

x17 46 46 46 46 46 46

Correlations

x12 x13 x14 x15 x16 x17

Sig. (1-tailed) x17 .259 .417 .417 .417 .417 .

x18 .211 .398 .398 .398 .398 .355

N

MAAR 46 46 46 46 46 46

x1 46 46 46 46 46 46

x2 46 46 46 46 46 46

x3 46 46 46 46 46 46

x4 46 46 46 46 46 46

x5 46 46 46 46 46 46

x6 46 46 46 46 46 46

x7 46 46 46 46 46 46

x8 46 46 46 46 46 46

x9 46 46 46 46 46 46

x10 46 46 46 46 46 46

x11 46 46 46 46 46 46

x12 46 46 46 46 46 46

x13 46 46 46 46 46 46

x14 46 46 46 46 46 46

x15 46 46 46 46 46 46

x16 46 46 46 46 46 46

x17 46 46 46 46 46 46

x18 46 46 46 46 46 46

Correlations

x18

Sig. (1-tailed) x17 .355

x18 .

N

MAAR 46

x1 46

x2 46

x3 46

x4 46

x5 46

x6 46

x7 46

x8 46

x9 46

x10 46

x11 46

x12 46

x13 46

x14 46

x15 46

x16 46

x17 46

x18 46

Variables Entered/Removed^a Model Variables

Entered

Variables Removed

Method

1 x11 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

a. Dependent Variable: MAAR

Model Summary

Model R R Square Adjusted R

Square Std. Error of the Estimate

1 .312^a .098 .077 3.90029134

a. Predictors: (Constant), x11

ANOVA^a

Model Sum of Squares df Mean Square F Sig.

1

Regression 72.333 1 72.333 4.755 .035^b

Residual 669.340 44 15.212

Total 741.673 45

a. Dependent Variable: MAAR b. Predictors: (Constant), x11

Coefficients^a

Model Unstandardized Coefficients Standardized Coefficients

t Sig.

B Std. Error Beta

1 (Constant) 1.324 .641 2.065 .045

x11 3.161 1.450 .312 2.181 .035

Coefficients^a

Model Collinearity Statistics

Tolerance VIF

1 (Constant)

x11 1.000 1.000

a. Dependent Variable: MAAR

Excluded Variables^a

Model Beta In t Sig. Partial

Correlation Collinearity Statistics Tolerance VIF

1

x1 -.079^b -.548 .587 -.083 .998 1.002

x2 -.132^b -.910 .368 -.137 .985 1.015

x3 -.060^b -.405 .687 -.062 .947 1.056

x4 -.273^b -1.964 .056 -.287 1.000 1.000

x5 .010^b .069 .945 .011 .981 1.019

x6 -.097^b -.668 .508 -.101 .992 1.008

x7 -.233^b -1.650 .106 -.244 .993 1.007

x8 -.087^b -.595 .555 -.090 .983 1.017

x9 -.075^b -.515 .609 -.078 .983 1.017

x10 -.036^b -.232 .818 -.035 .894 1.119

x12 .139^b .941 .352 .142 .949 1.054

x13 -.040^b -.278 .782 -.042 .995 1.005

x14 -.066^b -.456 .650 -.069 .995 1.005

x15 -.057^b -.391 .698 -.060 .995 1.005

x16 -.047^b -.324 .747 -.049 .995 1.005

x17 -.072^b -.494 .624 -.075 .989 1.011

x18 .202^b 1.412 .165 .211 .983 1.017

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

1

x1 .998^b

x2 .985^b

x3 .947^b

x4 1.000^b

x5 .981^b

x6 .992^b

x7 .993^b

x8 .983^b

x9 .983^b

x10 .894^b

x12 .949^b

x13 .995^b

x15 .995^b

x16 .995^b

x17 .989^b

x18 .983^b

a. Dependent Variable: MAAR

b. Predictors in the Model: (Constant), x11

Collinearity Diagnostics^a

Model Dimension Eigenvalue Condition Index Variance Proportions (Constant) x11

1 1 1.442 1.000 .28 .28

2 .558 1.608 .72 .72

a. Dependent Variable: MAAR

GET DATA /TYPE=XLSX

/FILE='C:\Users\Trishia Maniulit\Downloads\RAWDATA_UNDERPRICING-v2.xlsx' /SHEET=name '2007_2011_SGX'

/CELLRANGE=full /READNAMES=on

/ASSUMEDSTRWIDTH=32767.

EXECUTE.

DATASET NAME DataSet3 WINDOW=FRONT.

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE

/STATISTICS COEFF OUTS R ANOVA COLLIN TOL /CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR

/METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Regression

Notes

Output Created 12-JAN-2021 22:28:40

Comments

Input

Active Dataset DataSet3

Filter <none>

Weight <none>

Split File <none>

N of Rows in Working Data

File 911

Missing Value Handling

Definition of Missing User-defined missing values are treated as missing.

Cases Used Statistics are based on cases with no missing values for any variable used.

Syntax

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE /STATISTICS COEFF OUTS R ANOVA COLLIN TOL

/CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR /METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Resources

Processor Time 00:00:00.09

Elapsed Time 00:00:00.15

Memory Required 21888 bytes Additional Memory Required

for Residual Plots 0 bytes

[DataSet3]

Warnings

For models with dependent variable MAAR, the following variables are constants or have missing correlations: x8, x13, x15, x16. They will be deleted from the analysis.

Descriptive Statistics

Mean Std. Deviation N

MAAR 3.0538761 4.90737317 28

x1 .327068 .2038394 28

x2 126.988214 136.6595701 28

x3 6.82 11.102 28

x4 1.568632 1.8116091 28

x5 26.964286 42.7529355 28

x6 .279893 .2611928 28

x7 .274532 .1611532 28

x8 .00 .000 28

x9 .04 .189 28

x10 .43 .504 28

x11 .25 .441 28

x12 .18 .390 28

x13 .00 .000 28

x14 .04 .189 28

x15 .00 .000 28

x16 .00 .000 28

x17 .04 .189 28

x18 .04 .189 28

Correlations

MAAR x1 x2 x3 x4 x5

Pearson Correlation

MAAR 1.000 -.075 -.120 -.165 -.286 .078

x1 -.075 1.000 -.065 -.111 -.111 -.334

x2 -.120 -.065 1.000 -.173 .143 .517

x3 -.165 -.111 -.173 1.000 -.003 -.142

x4 -.286 -.111 .143 -.003 1.000 -.082

x5 .078 -.334 .517 -.142 -.082 1.000

x6 -.166 .315 -.593 -.075 -.015 -.353

x7 -.143 .129 .566 -.189 .445 .085

x8 . . . . . .

x9 -.125 -.265 .538 -.067 -.039 .605

x10 -.318 -.155 -.434 .504 -.300 -.206

x11 .316 .087 .120 -.233 .461 .030

x12 .047 .025 .158 -.232 -.005 .018

x13 . . . . . .

x14 -.140 .162 -.142 -.103 -.133 -.101

x15 . . . . . .

x16 . . . . . .

x17 -.123 .286 -.078 -.085 .027 -.124

x18 .402 -.023 .233 -.067 -.119 .060

Sig. (1-tailed)

MAAR . .353 .271 .201 .070 .346

x1 .353 . .371 .287 .287 .041

x2 .271 .371 . .189 .233 .002

x3 .201 .287 .189 . .494 .235

x4 .070 .287 .233 .494 . .340

x5 .346 .041 .002 .235 .340 .

x6 .199 .051 .000 .351 .469 .033

x7 .235 .256 .001 .167 .009 .333

x8 .000 .000 .000 .000 .000 .000

x9 .263 .086 .002 .367 .421 .000

x10 .050 .215 .011 .003 .060 .147

x11 .051 .331 .271 .117 .007 .440

x12 .406 .450 .211 .118 .490 .463

x13 .000 .000 .000 .000 .000 .000

x14 .239 .205 .235 .301 .251 .305

x15 .000 .000 .000 .000 .000 .000

x16 .000 .000 .000 .000 .000 .000

Correlations

x6 x7 x8 x9 x10 x11

Pearson Correlation

MAAR -.166 -.143 . -.125 -.318 .316

x1 .315 .129 . -.265 -.155 .087

x2 -.593 .566 . .538 -.434 .120

x3 -.075 -.189 . -.067 .504 -.233

x4 -.015 .445 . -.039 -.300 .461

x5 -.353 .085 . .605 -.206 .030

x6 1.000 -.162 . -.669 .200 -.036

x7 -.162 1.000 . .154 -.407 .222

x8 . . 1.000 . . .

x9 -.669 .154 . 1.000 -.167 -.111

x10 .200 -.407 . -.167 1.000 -.500

x11 -.036 .222 . -.111 -.500 1.000

x12 .146 .232 . -.090 -.404 -.269

x13 . . . . . .

x14 .137 -.125 . -.037 -.167 -.111

x15 . . . . . .

x16 . . . . . .

x17 .085 .012 . -.037 -.167 -.111

x18 -.305 .048 . -.037 -.167 -.111

Sig. (1-tailed)

MAAR .199 .235 .000 .263 .050 .051

x1 .051 .256 .000 .086 .215 .331

x2 .000 .001 .000 .002 .011 .271

x3 .351 .167 .000 .367 .003 .117

x4 .469 .009 .000 .421 .060 .007

x5 .033 .333 .000 .000 .147 .440

x6 . .206 .000 .000 .153 .428

x7 .206 . .000 .216 .016 .129

x8 .000 .000 . .000 .000 .000

x9 .000 .216 .000 . .198 .287

x10 .153 .016 .000 .198 . .003

x11 .428 .129 .000 .287 .003 .

x12 .229 .117 .000 .325 .017 .083

x13 .000 .000 .000 .000 .000 .000

x14 .243 .263 .000 .426 .198 .287

x15 .000 .000 .000 .000 .000 .000

x16 .000 .000 .000 .000 .000 .000

Correlations

x12 x13 x14 x15 x16 x17

Pearson Correlation

MAAR .047 . -.140 . . -.123

x1 .025 . .162 . . .286

x2 .158 . -.142 . . -.078

x3 -.232 . -.103 . . -.085

x4 -.005 . -.133 . . .027

x5 .018 . -.101 . . -.124

x6 .146 . .137 . . .085

x7 .232 . -.125 . . .012

x8 . . . . . .

x9 -.090 . -.037 . . -.037

x10 -.404 . -.167 . . -.167

x11 -.269 . -.111 . . -.111

x12 1.000 . -.090 . . -.090

x13 . 1.000 . . . .

x14 -.090 . 1.000 . . -.037

x15 . . . 1.000 . .

x16 . . . . 1.000 .

x17 -.090 . -.037 . . 1.000

x18 -.090 . -.037 . . -.037

Sig. (1-tailed)

MAAR .406 .000 .239 .000 .000 .266

x1 .450 .000 .205 .000 .000 .070

x2 .211 .000 .235 .000 .000 .346

x3 .118 .000 .301 .000 .000 .333

x4 .490 .000 .251 .000 .000 .445

x5 .463 .000 .305 .000 .000 .265

x6 .229 .000 .243 .000 .000 .334

x7 .117 .000 .263 .000 .000 .475

x8 .000 .000 .000 .000 .000 .000

x9 .325 .000 .426 .000 .000 .426

x10 .017 .000 .198 .000 .000 .198

x11 .083 .000 .287 .000 .000 .287

x12 . .000 .325 .000 .000 .325

x13 .000 . .000 .000 .000 .000

x14 .325 .000 . .000 .000 .426

x15 .000 .000 .000 . .000 .000

x16 .000 .000 .000 .000 . .000

Correlations

x18

Pearson Correlation

MAAR .402

x1 -.023

x2 .233

x3 -.067

x4 -.119

x5 .060

x6 -.305

x7 .048

x8 .

x9 -.037

x10 -.167

x11 -.111

x12 -.090

x13 .

x14 -.037

x15 .

x16 .

x17 -.037

x18 1.000

Sig. (1-tailed)

MAAR .017

x1 .453

x2 .116

x3 .367

x4 .274

x5 .381

x6 .057

x7 .404

x8 .000

x9 .426

x10 .198

x11 .287

x12 .325

x13 .000

x14 .426

x15 .000

x16 .000

Correlations

MAAR x1 x2 x3 x4 x5

Sig. (1-tailed) x17 .266 .070 .346 .333 .445 .265

x18 .017 .453 .116 .367 .274 .381

N

MAAR 28 28 28 28 28 28

x1 28 28 28 28 28 28

x2 28 28 28 28 28 28

x3 28 28 28 28 28 28

x4 28 28 28 28 28 28

x5 28 28 28 28 28 28

x6 28 28 28 28 28 28

x7 28 28 28 28 28 28

x8 28 28 28 28 28 28

x9 28 28 28 28 28 28

x10 28 28 28 28 28 28

x11 28 28 28 28 28 28

x12 28 28 28 28 28 28

x13 28 28 28 28 28 28

x14 28 28 28 28 28 28

x15 28 28 28 28 28 28

x16 28 28 28 28 28 28

x17 28 28 28 28 28 28

x18 28 28 28 28 28 28

Correlations

x6 x7 x8 x9 x10 x11

Sig. (1-tailed) x17 .334 .475 .000 .426 .198 .287

x18 .057 .404 .000 .426 .198 .287

N

MAAR 28 28 28 28 28 28

x1 28 28 28 28 28 28

x2 28 28 28 28 28 28

x3 28 28 28 28 28 28

x4 28 28 28 28 28 28

x5 28 28 28 28 28 28

x6 28 28 28 28 28 28

x7 28 28 28 28 28 28

x8 28 28 28 28 28 28

x9 28 28 28 28 28 28

x10 28 28 28 28 28 28

x11 28 28 28 28 28 28

x12 28 28 28 28 28 28

x13 28 28 28 28 28 28

x14 28 28 28 28 28 28

x15 28 28 28 28 28 28

x16 28 28 28 28 28 28

x17 28 28 28 28 28 28

Correlations

x12 x13 x14 x15 x16 x17

Sig. (1-tailed) x17 .325 .000 .426 .000 .000 .

x18 .325 .000 .426 .000 .000 .426

N

MAAR 28 28 28 28 28 28

x1 28 28 28 28 28 28

x2 28 28 28 28 28 28

x3 28 28 28 28 28 28

x4 28 28 28 28 28 28

x5 28 28 28 28 28 28

x6 28 28 28 28 28 28

x7 28 28 28 28 28 28

x8 28 28 28 28 28 28

x9 28 28 28 28 28 28

x10 28 28 28 28 28 28

x11 28 28 28 28 28 28

x12 28 28 28 28 28 28

x13 28 28 28 28 28 28

x14 28 28 28 28 28 28

x15 28 28 28 28 28 28

x16 28 28 28 28 28 28

x17 28 28 28 28 28 28

x18 28 28 28 28 28 28

Correlations

x18

Sig. (1-tailed) x17 .426

x18 .

N

MAAR 28

x1 28

x2 28

x3 28

x4 28

x5 28

x6 28

x7 28

x8 28

x9 28

x10 28

x11 28

x12 28

x13 28

x14 28

x15 28

x16 28

Variables Entered/Removed^a Model Variables

Entered

Variables Removed

Method

1 x18 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

2 x11 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

3 x4 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

a. Dependent Variable: MAAR

Model Summary

Model R R Square Adjusted R

Square

Std. Error of the Estimate

1 .402^a .162 .130 4.57828277

2 .542^b .293 .237 4.28734581

3 .707^c .499 .437 3.68314109

a. Predictors: (Constant), x18 b. Predictors: (Constant), x18, x11 c. Predictors: (Constant), x18, x11, x4

1

Regression 105.245 1 105.245 5.021 .034^b

Residual 544.978 26 20.961

Total 650.222 27

2

Regression 190.689 2 95.345 5.187 .013^c

Residual 459.533 25 18.381

Total 650.222 27

3

Regression 324.650 3 108.217 7.977 .001^d

Residual 325.573 24 13.566

Total 650.222 27

a. Dependent Variable: MAAR b. Predictors: (Constant), x18 c. Predictors: (Constant), x18, x11 d. Predictors: (Constant), x18, x11, x4

Coefficients^a

Model Unstandardized Coefficients Standardized

Coefficients t Sig.

B Std. Error Beta

1 (Constant) 2.681 .881 3.043 .005

x18 10.447 4.662 .402 2.241 .034

2 (Constant) 1.628 .959 1.699 .102

x18 11.500 4.393 .443 2.618 .015

x11 4.059 1.883 .365 2.156 .041

3

(Constant) 3.194 .963 3.318 .003

x18 10.588 3.785 .408 2.797 .010

x11 6.645 1.815 .597 3.662 .001

x4 -1.389 .442 -.513 -3.142 .004

Coefficients^a

Model Collinearity Statistics

Tolerance VIF

1 (Constant)

x18 1.000 1.000

2

(Constant)

x18 .988 1.013

x11 .988 1.013

3

(Constant)

x18 .982 1.018

x11 .785 1.274

x4 .783 1.277

a. Dependent Variable: MAAR

Excluded Variables^a

Model Beta In t Sig. Partial

Correlation Collinearity Statistics Tolerance VIF

1

x1 -.065^b -.358 .723 -.071 .999 1.001

x2 -.226^b -1.237 .227 -.240 .946 1.057

x3 -.138^b -.761 .454 -.150 .995 1.005

x4 -.242^b -1.360 .186 -.262 .986 1.014

x5 .055^b .298 .768 .059 .996 1.004

x6 -.048^b -.249 .806 -.050 .907 1.103

x7 -.162^b -.899 .377 -.177 .998 1.002

x9 -.110^b -.607 .549 -.121 .999 1.001

x10 -.258^b -1.446 .161 -.278 .972 1.029

x11 .365^b 2.156 .041 .396 .988 1.013

x12 .084^b .458 .651 .091 .992 1.008

x14 -.125^b -.689 .497 -.137 .999 1.001

x17 -.108^b -.596 .557 -.118 .999 1.001

2

x1 -.097^c -.565 .577 -.115 .992 1.008

x2 -.289^c -1.717 .099 -.331 .924 1.082

x3 -.053^c -.300 .767 -.061 .937 1.067

x4 -.513^c -3.142 .004 -.540 .783 1.277

x5 .041^c .240 .813 .049 .995 1.005

x6 -.020^c -.109 .914 -.022 .902 1.109

x7 -.259^c -1.536 .138 -.299 .946 1.058

x9 -.069^c -.402 .691 -.082 .985 1.015

x10 -.088^c -.431 .670 -.088 .700 1.429

x12 .203^c 1.160 .258 .230 .913 1.095

x14 -.084^c -.489 .629 -.099 .985 1.015

x17 -.067^c -.390 .700 -.079 .985 1.015

3

x1 -.181^d -1.241 .227 -.250 .963 1.039

x2 -.235^d -1.599 .123 -.316 .910 1.099

x3 .000^d .002 .998 .000 .925 1.081

x5 -.006^d -.039 .969 -.008 .984 1.016

x6 -.031^d -.199 .844 -.041 .901 1.109

x7 -.084^d -.506 .617 -.105 .791 1.264

x9 -.065^d -.439 .665 -.091 .985 1.015

x10 -.153^d -.874 .391 -.179 .691 1.448

x12 .270^d 1.856 .076 .361 .897 1.114

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

1

x1 .999^b

x2 .946^b

x3 .995^b

x4 .986^b

x5 .996^b

x6 .907^b

x7 .998^b

x9 .999^b

x10 .972^b

x11 .988^b

x12 .992^b

x14 .999^b

x17 .999^b

2

x1 .981^c

x2 .924^c

x3 .930^c

x4 .783^c

x5 .984^c

x6 .892^c

x7 .936^c

x9 .974^c

x10 .700^c

x12 .909^c

x14 .974^c

x17 .974^c

3

x1 .760^d

x2 .771^d

x3 .729^d

x5 .775^d

x6 .782^d

x7 .655^d

x9 .776^d

x10 .624^d

x12 .710^d

Correlation Tolerance VIF

3 x14 -.130^b -.882 .387 -.181 .976 1.025

x17 -.028^b -.190 .851 -.040 .978 1.023

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

3 x14 .776^b

x17 .769^b

a. Dependent Variable: MAAR

b. Predictors in the Model: (Constant), x18 c. Predictors in the Model: (Constant), x18, x11 d. Predictors in the Model: (Constant), x18, x11, x4

Collinearity Diagnostics^a

Model Dimension Eigenvalue Condition Index Variance Proportions

(Constant) x18 x11 x4

1 1 1.189 1.000 .41 .41

2 .811 1.211 .59 .59

2

1 1.535 1.000 .23 .04 .21

2 1.000 1.239 .00 .83 .09

3 .465 1.816 .77 .13 .70

3

1 2.211 1.000 .08 .00 .08 .07

2 1.022 1.471 .01 .86 .02 .01

3 .471 2.165 .41 .10 .69 .02

4 .295 2.736 .50 .03 .20 .90

a. Dependent Variable: MAAR

GET DATA /TYPE=XLSX

/FILE='C:\Users\Trishia Maniulit\Downloads\RAWDATA_UNDERPRICING-v2.xlsx' /SHEET=name '2012_2016_SGX'

/CELLRANGE=full /READNAMES=on

/ASSUMEDSTRWIDTH=32767.

EXECUTE.

DATASET NAME DataSet4 WINDOW=FRONT.

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE

/STATISTICS COEFF OUTS R ANOVA COLLIN TOL /CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR

/METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Regression

Notes

Output Created 12-JAN-2021 22:30:11

Comments

Input

Active Dataset DataSet4

Filter <none>

Weight <none>

Split File <none>

N of Rows in Working Data

File 901

Missing Value Handling

Definition of Missing User-defined missing values are treated as missing.

Cases Used Statistics are based on cases with no missing values for any variable used.

Syntax

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE /STATISTICS COEFF OUTS R ANOVA COLLIN TOL

/CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR /METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Resources

Processor Time 00:00:00.11

Elapsed Time 00:00:00.17

Memory Required 21888 bytes Additional Memory Required

for Residual Plots 0 bytes

[DataSet4]

Warnings

For models with dependent variable MAAR, the following variables are constants or have missing correlations: x14 . They will be deleted from the analysis.

Descriptive Statistics

Mean Std. Deviation N

MAAR .2139506 .42596369 18

x1 .333667 .1941606 18

x2 384.500 528.6359 18

x3 5.61 5.066 18

x4 4.030480 3.9252251 18

x5 51.222222 57.3908740 18

x6 .197944 .1551305 18

x7 .484842 .2496521 18

x8 .17 .383 18

x9 .11 .323 18

x10 .11 .323 18

x11 .11 .323 18

x12 .17 .383 18

x13 .06 .236 18

x14 .00 .000 18

x15 .06 .236 18

x16 .06 .236 18

x17 .06 .236 18

x18 .11 .323 18

MAAR x1 x2 x3 x4 x5

Pearson Correlation

MAAR 1.000 -.132 -.265 -.318 -.241 .021

x1 -.132 1.000 -.423 .341 -.208 -.412

x2 -.265 -.423 1.000 .103 .429 .367

x3 -.318 .341 .103 1.000 .499 -.183

x4 -.241 -.208 .429 .499 1.000 .119

x5 .021 -.412 .367 -.183 .119 1.000

x6 .344 -.126 -.401 -.309 -.470 -.104

x7 -.493 .107 .536 .526 .411 -.091

x8 -.198 .066 -.011 -.116 .051 .412

x9 .111 -.088 -.212 -.044 .195 -.226

x10 -.004 -.093 -.162 .351 .161 -.122

x11 .053 -.054 -.212 -.331 -.296 -.325

x12 .522 -.325 .473 -.116 .255 .372

x13 .017 .291 -.160 .265 -.210 -.205

x14 . . . . . .

x15 -.240 .186 -.155 -.129 -.077 -.105

x16 -.088 .791 -.167 .413 -.133 -.223

x17 -.122 -.213 .383 .019 -.063 .099

x18 -.230 -.225 .112 -.116 -.071 .059

Sig. (1-tailed)

MAAR . .301 .144 .099 .168 .466

x1 .301 . .040 .083 .204 .045

x2 .144 .040 . .342 .038 .067

x3 .099 .083 .342 . .017 .233

x4 .168 .204 .038 .017 . .319

x5 .466 .045 .067 .233 .319 .

x6 .081 .310 .050 .106 .024 .341

x7 .019 .336 .011 .012 .045 .360

x8 .216 .398 .482 .323 .420 .044

x9 .330 .364 .199 .431 .219 .183

x10 .493 .357 .260 .077 .262 .315

x11 .417 .416 .199 .090 .117 .094

x12 .013 .094 .024 .323 .153 .064

x13 .474 .121 .263 .144 .201 .207

x14 .000 .000 .000 .000 .000 .000

x15 .169 .231 .270 .305 .380 .339

x16 .365 .000 .254 .044 .300 .187

Correlations

x6 x7 x8 x9 x10 x11

Pearson Correlation

MAAR .344 -.493 -.198 .111 -.004 .053

x1 -.126 .107 .066 -.088 -.093 -.054

x2 -.401 .536 -.011 -.212 -.162 -.212

x3 -.309 .526 -.116 -.044 .351 -.331

x4 -.470 .411 .051 .195 .161 -.296

x5 -.104 -.091 .412 -.226 -.122 -.325

x6 1.000 -.612 -.104 .032 .380 .419

x7 -.612 1.000 .160 -.342 .038 -.318

x8 -.104 .160 1.000 -.158 -.158 -.158

x9 .032 -.342 -.158 1.000 -.125 -.125

x10 .380 .038 -.158 -.125 1.000 -.125

x11 .419 -.318 -.158 -.125 -.125 1.000

x12 -.056 -.066 -.200 -.158 -.158 -.158

x13 -.119 -.123 -.108 -.086 -.086 -.086

x14 . . . . . .

x15 -.156 -.076 -.108 -.086 -.086 -.086

x16 -.016 .209 -.108 -.086 -.086 -.086

x17 -.069 .172 -.108 -.086 -.086 -.086

x18 -.379 .379 -.158 -.125 -.125 -.125

Sig. (1-tailed)

MAAR .081 .019 .216 .330 .493 .417

x1 .310 .336 .398 .364 .357 .416

x2 .050 .011 .482 .199 .260 .199

x3 .106 .012 .323 .431 .077 .090

x4 .024 .045 .420 .219 .262 .117

x5 .341 .360 .044 .183 .315 .094

x6 . .003 .341 .450 .060 .042

x7 .003 . .263 .082 .440 .099

x8 .341 .263 . .265 .265 .265

x9 .450 .082 .265 . .311 .311

x10 .060 .440 .265 .311 . .311

x11 .042 .099 .265 .311 .311 .

x12 .412 .397 .213 .265 .265 .265

x13 .319 .313 .334 .368 .368 .368

x14 .000 .000 .000 .000 .000 .000

x15 .268 .382 .334 .368 .368 .368

x16 .475 .203 .334 .368 .368 .368

Correlations

x12 x13 x14 x15 x16 x17

Pearson Correlation

MAAR .522 .017 . -.240 -.088 -.122

x1 -.325 .291 . .186 .791 -.213

x2 .473 -.160 . -.155 -.167 .383

x3 -.116 .265 . -.129 .413 .019

x4 .255 -.210 . -.077 -.133 -.063

x5 .372 -.205 . -.105 -.223 .099

x6 -.056 -.119 . -.156 -.016 -.069

x7 -.066 -.123 . -.076 .209 .172

x8 -.200 -.108 . -.108 -.108 -.108

x9 -.158 -.086 . -.086 -.086 -.086

x10 -.158 -.086 . -.086 -.086 -.086

x11 -.158 -.086 . -.086 -.086 -.086

x12 1.000 -.108 . -.108 -.108 -.108

x13 -.108 1.000 . -.059 -.059 -.059

x14 . . 1.000 . . .

x15 -.108 -.059 . 1.000 -.059 -.059

x16 -.108 -.059 . -.059 1.000 -.059

x17 -.108 -.059 . -.059 -.059 1.000

x18 -.158 -.086 . -.086 -.086 -.086

Sig. (1-tailed)

MAAR .013 .474 .000 .169 .365 .315

x1 .094 .121 .000 .231 .000 .198

x2 .024 .263 .000 .270 .254 .058

x3 .323 .144 .000 .305 .044 .470

x4 .153 .201 .000 .380 .300 .402

x5 .064 .207 .000 .339 .187 .348

x6 .412 .319 .000 .268 .475 .393

x7 .397 .313 .000 .382 .203 .247

x8 .213 .334 .000 .334 .334 .334

x9 .265 .368 .000 .368 .368 .368

x10 .265 .368 .000 .368 .368 .368

x11 .265 .368 .000 .368 .368 .368

x12 . .334 .000 .334 .334 .334

x13 .334 . .000 .408 .408 .408

x14 .000 .000 . .000 .000 .000

x15 .334 .408 .000 . .408 .408

x16 .334 .408 .000 .408 . .408

Correlations

x18

Pearson Correlation

MAAR -.230

x1 -.225

x2 .112

x3 -.116

x4 -.071

x5 .059

x6 -.379

x7 .379

x8 -.158

x9 -.125

x10 -.125

x11 -.125

x12 -.158

x13 -.086

x14 .

x15 -.086

x16 -.086

x17 -.086

x18 1.000

Sig. (1-tailed)

MAAR .179

x1 .185

x2 .330

x3 .324

x4 .390

x5 .408

x6 .061

x7 .061

x8 .265

x9 .311

x10 .311

x11 .311

x12 .265

x13 .368

x14 .000

x15 .368

x16 .368

Correlations

MAAR x1 x2 x3 x4 x5

Sig. (1-tailed) x17 .315 .198 .058 .470 .402 .348

x18 .179 .185 .330 .324 .390 .408

N

MAAR 18 18 18 18 18 18

x1 18 18 18 18 18 18

x2 18 18 18 18 18 18

x3 18 18 18 18 18 18

x4 18 18 18 18 18 18

x5 18 18 18 18 18 18

x6 18 18 18 18 18 18

x7 18 18 18 18 18 18

x8 18 18 18 18 18 18

x9 18 18 18 18 18 18

x10 18 18 18 18 18 18

x11 18 18 18 18 18 18

x12 18 18 18 18 18 18

x13 18 18 18 18 18 18

x14 18 18 18 18 18 18

x15 18 18 18 18 18 18

x16 18 18 18 18 18 18

x17 18 18 18 18 18 18

x18 18 18 18 18 18 18

Correlations

x6 x7 x8 x9 x10 x11

Sig. (1-tailed) x17 .393 .247 .334 .368 .368 .368

x18 .061 .061 .265 .311 .311 .311

N

MAAR 18 18 18 18 18 18

x1 18 18 18 18 18 18

x2 18 18 18 18 18 18

x3 18 18 18 18 18 18

x4 18 18 18 18 18 18

x5 18 18 18 18 18 18

x6 18 18 18 18 18 18

x7 18 18 18 18 18 18

x8 18 18 18 18 18 18

x9 18 18 18 18 18 18

x10 18 18 18 18 18 18

x11 18 18 18 18 18 18

x12 18 18 18 18 18 18

x13 18 18 18 18 18 18

x14 18 18 18 18 18 18

x15 18 18 18 18 18 18

x16 18 18 18 18 18 18

x17 18 18 18 18 18 18

Correlations

x12 x13 x14 x15 x16 x17

Sig. (1-tailed) x17 .334 .408 .000 .408 .408 .

x18 .265 .368 .000 .368 .368 .368

N

MAAR 18 18 18 18 18 18

x1 18 18 18 18 18 18

x2 18 18 18 18 18 18

x3 18 18 18 18 18 18

x4 18 18 18 18 18 18

x5 18 18 18 18 18 18

x6 18 18 18 18 18 18

x7 18 18 18 18 18 18

x8 18 18 18 18 18 18

x9 18 18 18 18 18 18

x10 18 18 18 18 18 18

x11 18 18 18 18 18 18

x12 18 18 18 18 18 18

x13 18 18 18 18 18 18

x14 18 18 18 18 18 18

x15 18 18 18 18 18 18

x16 18 18 18 18 18 18

x17 18 18 18 18 18 18

x18 18 18 18 18 18 18

Correlations

x18

Sig. (1-tailed) x17 .368

x18 .

N

MAAR 18

x1 18

x2 18

x3 18

x4 18

x5 18

x6 18

x7 18

x8 18

x9 18

x10 18

x11 18

x12 18

x13 18

x14 18

x15 18

x16 18

x17 18

x18 18

Variables Entered/Removed^a Model Variables

Entered

Variables Removed

Method

1 x12 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

2 x2 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

a. Dependent Variable: MAAR

Model Summary

Model R R Square Adjusted R

Square Std. Error of the Estimate

1 .522^a .273 .228 .37438421

2 .781^b .610 .558 .28304035

a. Predictors: (Constant), x12 b. Predictors: (Constant), x12, x2

ANOVA^a

Model Sum of Squares df Mean Square F Sig.

1

Regression .842 1 .842 6.007 .026^b

Residual 2.243 16 .140

Total 3.085 17

2

Regression 1.883 2 .941 11.752 .001^c

Residual 1.202 15 .080

Total 3.085 17

a. Dependent Variable: MAAR

Coefficients^a

Model Unstandardized Coefficients Standardized Coefficients

t Sig.

B Std. Error Beta

1 (Constant) .117 .097 1.213 .243

x12 .580 .237 .522 2.451 .026

2

(Constant) .264 .084 3.154 .007

x12 .927 .203 .834 4.561 .000

x2 -.001 .000 -.659 -3.605 .003

Coefficients^a

Model Collinearity Statistics

Tolerance VIF

1 (Constant)

x12 1.000 1.000

2

(Constant)

x12 .776 1.288

x2 .776 1.288

a. Dependent Variable: MAAR

Excluded Variables^a

Model Beta In t Sig. Partial

Correlation Collinearity Statistics Tolerance VIF

1

x1 .043^b .185 .855 .048 .894 1.119

x2 -.659^b -3.605 .003 -.681 .776 1.288

x3 -.261^b -1.236 .236 -.304 .987 1.014

x4 -.400^b -1.972 .067 -.454 .935 1.070

x5 -.201^b -.868 .399 -.219 .861 1.161

x6 .375^b 1.892 .078 .439 .997 1.003

x7 -.460^b -2.476 .026 -.539 .996 1.004

x8 -.097^b -.435 .670 -.111 .960 1.042

x9 .199^b .917 .374 .230 .975 1.026

x10 .080^b .363 .722 .093 .975 1.026

x11 .139^b .633 .536 .161 .975 1.026

x13 .074^b .337 .741 .087 .988 1.012

x15 -.185^b -.857 .405 -.216 .988 1.012

x16 -.031^b -.141 .890 -.036 .988 1.012

x17 -.066^b -.300 .768 -.077 .988 1.012

x18 -.151^b -.689 .501 -.175 .975 1.026

2

x1 -.173^c -.959 .354 -.248 .801 1.249

x3 -.161^c -.972 .347 -.252 .954 1.048

x4 -.211^c -1.195 .252 -.304 .813 1.230

x5 -.058^c -.317 .756 -.084 .815 1.228

x6 .155^c .863 .402 .225 .816 1.225

x7 -.145^c -.673 .512 -.177 .581 1.721

x8 -.040^c -.236 .817 -.063 .951 1.051

x10 .021^c .126 .901 .034 .965 1.036

x11 .047^c .278 .785 .074 .951 1.052

x13 .002^c .010 .992 .003 .973 1.028

x15 -.258^c -1.671 .117 -.408 .974 1.026

x16 -.110^c -.663 .518 -.174 .971 1.030

x17 .296^c 1.681 .115 .410 .745 1.342

x18 -.026^c -.153 .880 -.041 .930 1.075

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

1

x1 .894^b

x2 .776^b

x3 .987^b

x4 .935^b

x5 .861^b

x6 .997^b

x7 .996^b

x8 .960^b

x9 .975^b

x10 .975^b

x11 .975^b

x13 .988^b

x15 .988^b

x16 .988^b

x17 .988^b

x18 .975^b

2

x1 .696^c

x3 .749^c

x4 .675^c

x5 .731^c

x6 .636^c

x7 .453^c

x8 .739^c

x9 .757^c

x10 .769^c

x11 .757^c

x13 .764^c

x15 .766^c

x16 .763^c

x17 .585^c

a. Dependent Variable: MAAR

b. Predictors in the Model: (Constant), x12 c. Predictors in the Model: (Constant), x12, x2

Collinearity Diagnostics^a

Model Dimension Eigenvalue Condition Index Variance Proportions

(Constant) x12 x2

1 1 1.408 1.000 .30 .30

2 .592 1.543 .70 .70

2

1 2.070 1.000 .10 .10 .09

2 .592 1.870 .52 .56 .00

3 .339 2.472 .38 .34 .91

a. Dependent Variable: MAAR

GET DATA /TYPE=XLSX

/FILE='C:\Users\Trishia Maniulit\Downloads\RAWDATA_UNDERPRICING-v2.xlsx' /SHEET=name 'KLSE07-11'

/CELLRANGE=full /READNAMES=on

/ASSUMEDSTRWIDTH=32767.

EXECUTE.

DATASET NAME DataSet5 WINDOW=FRONT.

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE

/STATISTICS COEFF OUTS R ANOVA COLLIN TOL /CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR

/METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Regression

Notes

Output Created 12-JAN-2021 22:37:18

Comments

Input

Active Dataset DataSet5

Filter <none>

Weight <none>

Split File <none>

N of Rows in Working Data

File 906

Missing Value Handling

Definition of Missing User-defined missing values are treated as missing.

Cases Used Statistics are based on cases with no missing values for any variable used.

Syntax

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE /STATISTICS COEFF OUTS R ANOVA COLLIN TOL

/CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR /METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Resources

Processor Time 00:00:00.06

Elapsed Time 00:00:00.17

Memory Required 21808 bytes Additional Memory Required

for Residual Plots 0 bytes

[DataSet5]

Warnings

For models with dependent variable MAAR , the following variables are constants or have missing correlations: x13, x17, x18. They will be deleted from the analysis.

Descriptive Statistics

Mean Std. Deviation N

MAAR .0640170 .91226301 23

x1 .567130 .3520030 23

x2 82.478696 185.8445174 23

x3 4.57 5.442 23

x4 132.473941 583.6459144 23

x5 30.304348 85.4796280 23

x6 .184217 .2958962 23

x7 .363203 .4442373 23

x8 .13 .344 23

x9 .09 .288 23

x10 .26 .449 23

x11 .17 .388 23

x12 .13 .344 23

x13 .00 .000 23

x14 .04 .209 23

x15 .09 .288 23

x16 .09 .288 23

x17 .00 .000 23

x18 .00 .000 23

Correlations

MAAR x1 x2 x3 x4 x5

Pearson Correlation

MAAR 1.000 -.097 -.016 .600 -.012 -.116

x1 -.097 1.000 .367 .138 .265 .295

x2 -.016 .367 1.000 -.126 .973 .210

x3 .600 .138 -.126 1.000 -.184 .230

x4 -.012 .265 .973 -.184 1.000 .068

x5 -.116 .295 .210 .230 .068 1.000

x6 -.189 .178 .128 .005 .093 .080

x7 -.272 .286 .526 -.083 .465 .155

x8 -.125 .487 -.037 -.211 -.086 -.103

x9 .434 -.074 -.097 .402 -.071 -.080

x10 -.052 -.203 -.160 -.063 -.133 -.035

x11 -.173 -.344 -.150 -.243 -.104 -.146

x12 -.135 -.038 .004 .032 -.057 -.116

x13 . . . . . .

x14 -.077 .268 .095 .258 -.045 .958

x15 .251 -.006 -.129 .286 -.071 -.106

x16 -.004 .129 .647 -.236 .690 .006

x17 . . . . . .

x18 . . . . . .

Sig. (1-tailed)

MAAR . .329 .472 .001 .478 .300

x1 .329 . .042 .264 .111 .086

x2 .472 .042 . .284 .000 .168

x3 .001 .264 .284 . .200 .145

x4 .478 .111 .000 .200 . .378

x5 .300 .086 .168 .145 .378 .

x6 .194 .209 .281 .492 .337 .358

x7 .105 .093 .005 .353 .013 .239

x8 .285 .009 .434 .167 .349 .319

x9 .019 .368 .330 .029 .374 .358

x10 .406 .176 .233 .387 .273 .436

x11 .215 .054 .247 .132 .319 .253

x12 .269 .432 .492 .443 .399 .300

x13 .000 .000 .000 .000 .000 .000

x14 .364 .108 .333 .118 .420 .000

x15 .124 .489 .278 .093 .374 .315

x16 .493 .279 .000 .139 .000 .489

Correlations

x6 x7 x8 x9 x10 x11

Pearson Correlation

MAAR -.189 -.272 -.125 .434 -.052 -.173

x1 .178 .286 .487 -.074 -.203 -.344

x2 .128 .526 -.037 -.097 -.160 -.150

x3 .005 -.083 -.211 .402 -.063 -.243

x4 .093 .465 -.086 -.071 -.133 -.104

x5 .080 .155 -.103 -.080 -.035 -.146

x6 1.000 .260 .068 -.015 -.117 .304

x7 .260 1.000 .081 -.189 -.232 -.218

x8 .068 .081 1.000 -.120 -.230 -.178

x9 -.015 -.189 -.120 1.000 -.183 -.142

x10 -.117 -.232 -.230 -.183 1.000 -.273

x11 .304 -.218 -.178 -.142 -.273 1.000

x12 .160 .503 -.150 -.120 -.230 -.178

x13 . . . . . .

x14 .038 .116 -.083 -.066 -.127 -.098

x15 .018 -.192 -.120 -.095 -.183 -.142

x16 -.530 .253 -.120 -.095 -.183 -.142

x17 . . . . . .

x18 . . . . . .

Sig. (1-tailed)

MAAR .194 .105 .285 .019 .406 .215

x1 .209 .093 .009 .368 .176 .054

x2 .281 .005 .434 .330 .233 .247

x3 .492 .353 .167 .029 .387 .132

x4 .337 .013 .349 .374 .273 .319

x5 .358 .239 .319 .358 .436 .253

x6 . .116 .378 .474 .297 .079

x7 .116 . .357 .194 .143 .159

x8 .378 .357 . .293 .145 .209

x9 .474 .194 .293 . .201 .260

x10 .297 .143 .145 .201 . .104

x11 .079 .159 .209 .260 .104 .

x12 .232 .007 .247 .293 .145 .209

x13 .000 .000 .000 .000 .000 .000

x14 .431 .299 .354 .383 .282 .329

x15 .467 .190 .293 .333 .201 .260

x16 .005 .122 .293 .333 .201 .260

Correlations

x12 x13 x14 x15 x16 x17

Pearson Correlation

MAAR -.135 . -.077 .251 -.004 .

x1 -.038 . .268 -.006 .129 .

x2 .004 . .095 -.129 .647 .

x3 .032 . .258 .286 -.236 .

x4 -.057 . -.045 -.071 .690 .

x5 -.116 . .958 -.106 .006 .

x6 .160 . .038 .018 -.530 .

x7 .503 . .116 -.192 .253 .

x8 -.150 . -.083 -.120 -.120 .

x9 -.120 . -.066 -.095 -.095 .

x10 -.230 . -.127 -.183 -.183 .

x11 -.178 . -.098 -.142 -.142 .

x12 1.000 . -.083 -.120 -.120 .

x13 . 1.000 . . . .

x14 -.083 . 1.000 -.066 -.066 .

x15 -.120 . -.066 1.000 -.095 .

x16 -.120 . -.066 -.095 1.000 .

x17 . . . . . 1.000

x18 . . . . . .

Sig. (1-tailed)

MAAR .269 .000 .364 .124 .493 .000

x1 .432 .000 .108 .489 .279 .000

x2 .492 .000 .333 .278 .000 .000

x3 .443 .000 .118 .093 .139 .000

x4 .399 .000 .420 .374 .000 .000

x5 .300 .000 .000 .315 .489 .000

x6 .232 .000 .431 .467 .005 .000

x7 .007 .000 .299 .190 .122 .000

x8 .247 .000 .354 .293 .293 .000

x9 .293 .000 .383 .333 .333 .000

x10 .145 .000 .282 .201 .201 .000

x11 .209 .000 .329 .260 .260 .000

x12 . .000 .354 .293 .293 .000

x13 .000 . .000 .000 .000 .000

x14 .354 .000 . .383 .383 .000

x15 .293 .000 .383 . .333 .000

x16 .293 .000 .383 .333 . .000

Correlations

x18

Pearson Correlation

MAAR .

x1 .

x2 .

x3 .

x4 .

x5 .

x6 .

x7 .

x8 .

x9 .

x10 .

x11 .

x12 .

x13 .

x14 .

x15 .

x16 .

x17 .

x18 1.000

Sig. (1-tailed)

MAAR .000

x1 .000

x2 .000

x3 .000

x4 .000

x5 .000

x6 .000

x7 .000

x8 .000

x9 .000

x10 .000

x11 .000

x12 .000

x13 .000

x14 .000

x15 .000

x16 .000

Correlations

MAAR x1 x2 x3 x4 x5

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .000

x18 .000 .000 .000 .000 .000 .000

N

MAAR 23 23 23 23 23 23

x1 23 23 23 23 23 23

x2 23 23 23 23 23 23

x3 23 23 23 23 23 23

x4 23 23 23 23 23 23

x5 23 23 23 23 23 23

x6 23 23 23 23 23 23

x7 23 23 23 23 23 23

x8 23 23 23 23 23 23

x9 23 23 23 23 23 23

x10 23 23 23 23 23 23

x11 23 23 23 23 23 23

x12 23 23 23 23 23 23

x13 23 23 23 23 23 23

x14 23 23 23 23 23 23

x15 23 23 23 23 23 23

x16 23 23 23 23 23 23

x17 23 23 23 23 23 23

x18 23 23 23 23 23 23

Correlations

x6 x7 x8 x9 x10 x11

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .000

x18 .000 .000 .000 .000 .000 .000

N

MAAR 23 23 23 23 23 23

x1 23 23 23 23 23 23

x2 23 23 23 23 23 23

x3 23 23 23 23 23 23

x4 23 23 23 23 23 23

x5 23 23 23 23 23 23

x6 23 23 23 23 23 23

x7 23 23 23 23 23 23

x8 23 23 23 23 23 23

x9 23 23 23 23 23 23

x10 23 23 23 23 23 23

x11 23 23 23 23 23 23

x12 23 23 23 23 23 23

x13 23 23 23 23 23 23

x14 23 23 23 23 23 23

x15 23 23 23 23 23 23

x16 23 23 23 23 23 23

Correlations

x12 x13 x14 x15 x16 x17

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .

x18 .000 .000 .000 .000 .000 .000

N

MAAR 23 23 23 23 23 23

x1 23 23 23 23 23 23

x2 23 23 23 23 23 23

x3 23 23 23 23 23 23

x4 23 23 23 23 23 23

x5 23 23 23 23 23 23

x6 23 23 23 23 23 23

x7 23 23 23 23 23 23

x8 23 23 23 23 23 23

x9 23 23 23 23 23 23

x10 23 23 23 23 23 23

x11 23 23 23 23 23 23

x12 23 23 23 23 23 23

x13 23 23 23 23 23 23

x14 23 23 23 23 23 23

x15 23 23 23 23 23 23

x16 23 23 23 23 23 23

x17 23 23 23 23 23 23

x18 23 23 23 23 23 23

Correlations

x18

Sig. (1-tailed) x17 .000

x18 .

N

MAAR 23

x1 23

x2 23

x3 23

x4 23

x5 23

x6 23

x7 23

x8 23

x9 23

x10 23

x11 23

x12 23

x13 23

x14 23

x15 23

x16 23

x17 23

Variables Entered/Removed^a Model Variables

Entered

Variables Removed

Method

1 x3 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

a. Dependent Variable: MAAR

Model Summary

Model R R Square Adjusted R

Square

Std. Error of the Estimate

1 .600^a .360 .330 .74686534

a. Predictors: (Constant), x3

ANOVA^a

Model Sum of Squares df Mean Square F Sig.

1

Regression 6.595 1 6.595 11.823 .002^b

Residual 11.714 21 .558

Total 18.309 22

a. Dependent Variable: MAAR b. Predictors: (Constant), x3

Coefficients^a

Model Unstandardized Coefficients Standardized Coefficients

t Sig.

B Std. Error Beta

1 (Constant) -.395 .205 -1.926 .068

x3 .101 .029 .600 3.438 .002

Coefficients^a

Model Collinearity Statistics

Tolerance VIF

1 (Constant)

x3 1.000 1.000

a. Dependent Variable: MAAR

Excluded Variables^a

1

x1 -.184^b -1.045 .308 -.228 .981 1.020

x2 .061^b .339 .738 .076 .984 1.016

x4 .102^b .564 .579 .125 .966 1.035

x5 -.268^b -1.543 .139 -.326 .947 1.056

x6 -.192^b -1.104 .283 -.240 1.000 1.000

x7 -.223^b -1.295 .210 -.278 .993 1.007

x8 .002^b .010 .992 .002 .956 1.047

x9 .230^b 1.218 .237 .263 .838 1.193

x10 -.015^b -.081 .936 -.018 .996 1.004

x11 -.029^b -.159 .876 -.035 .941 1.063

x12 -.155^b -.880 .389 -.193 .999 1.001

x14 -.248^b -1.403 .176 -.299 .934 1.071

x15 .087^b .466 .646 .104 .918 1.089

x16 .146^b .804 .431 .177 .944 1.059

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

1

x1 .981^b

x2 .984^b

x4 .966^b

x5 .947^b

x6 1.000^b

x7 .993^b

x8 .956^b

x9 .838^b

x10 .996^b

x11 .941^b

x12 .999^b

x14 .934^b

x15 .918^b

x16 .944^b

a. Dependent Variable: MAAR

b. Predictors in the Model: (Constant), x3

Collinearity Diagnostics^a

Model Dimension Eigenvalue Condition Index Variance Proportions (Constant) x3

1 1 1.651 1.000 .17 .17

2 .349 2.175 .83 .83

a. Dependent Variable: MAAR

GET DATA /TYPE=XLSX

/FILE='C:\Users\Trishia Maniulit\Downloads\RAWDATA_UNDERPRICING-v2.xlsx' /SHEET=name 'KLSE12-16'

/CELLRANGE=full /READNAMES=on

/ASSUMEDSTRWIDTH=32767.

EXECUTE.

DATASET NAME DataSet6 WINDOW=FRONT.

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE

/STATISTICS COEFF OUTS R ANOVA COLLIN TOL /CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR

/METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Regression

Notes

Output Created 12-JAN-2021 22:38:31

Comments

Input

Active Dataset DataSet6

Filter <none>

Weight <none>

Split File <none>

N of Rows in Working Data

File 913

Missing Value Handling

Definition of Missing User-defined missing values are treated as missing.

Cases Used Statistics are based on cases with no missing values for any variable used.

Syntax

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE /STATISTICS COEFF OUTS R ANOVA COLLIN TOL

/CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR /METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Resources

Processor Time 00:00:00.08

Elapsed Time 00:00:00.19

Memory Required 21808 bytes Additional Memory Required

for Residual Plots 0 bytes

Warnings

For models with dependent variable MAAR , the following variables are constants or have missing correlations: x14 , x17, x18. They will be deleted from the analysis.

Descriptive Statistics

Mean Std. Deviation N

MAAR .2143457 1.23138397 30

x1 .403633 .2193856 30

x2 328.412000 797.0159720 30

x3 8.03 14.058 30

x4 177.828526 738.1277626 30

x5 199.80 914.827 30

x6 12.854000 14.7051163 30

x7 .234320 .1737965 30

x8 .13 .346 30

x9 .07 .254 30

x10 .40 .498 30

x11 .13 .346 30

x12 .10 .305 30

x13 .07 .254 30

x14 .00 .000 30

x15 .03 .183 30

x16 .07 .254 30

x17 .00 .000 30

x18 .00 .000 30

Correlations

MAAR x1 x2 x3 x4 x5

Pearson Correlation

MAAR 1.000 .015 .401 .047 .011 -.052

x1 .015 1.000 .074 -.158 -.054 -.043

x2 .401 .074 1.000 .561 .149 -.069

x3 .047 -.158 .561 1.000 -.025 -.093

x4 .011 -.054 .149 -.025 1.000 -.044

x5 -.052 -.043 -.069 -.093 -.044 1.000

x6 -.024 .112 -.154 -.153 -.047 -.166

x7 -.166 .252 .218 .097 .495 -.100

x8 .146 -.033 -.018 -.001 .493 -.072

x9 -.149 -.289 -.049 .270 -.063 -.049

x10 -.036 .299 -.211 -.233 -.166 -.144

x11 -.225 -.140 -.140 -.001 -.081 -.081

x12 .350 .177 .772 .425 -.011 -.064

x13 .014 -.200 -.096 -.126 -.063 -.054

x14 . . . . . .

x15 -.053 -.050 -.076 -.094 -.044 .999

x16 -.069 -.039 -.100 -.126 -.063 -.048

x17 . . . . . .

x18 . . . . . .

Sig. (1-tailed)

MAAR . .469 .014 .402 .478 .393

x1 .469 . .349 .202 .389 .411

x2 .014 .349 . .001 .217 .359

x3 .402 .202 .001 . .449 .313

x4 .478 .389 .217 .449 . .409

x5 .393 .411 .359 .313 .409 .

x6 .450 .278 .208 .210 .402 .191

x7 .190 .089 .123 .304 .003 .299

x8 .221 .430 .462 .498 .003 .352

x9 .216 .061 .399 .074 .370 .399

x10 .425 .054 .132 .107 .190 .225

x11 .116 .230 .231 .498 .335 .335

x12 .029 .174 .000 .010 .476 .368

x13 .471 .144 .308 .253 .370 .387

x14 .000 .000 .000 .000 .000 .000

x15 .390 .397 .345 .310 .408 .000

x16 .359 .420 .300 .253 .370 .401

Correlations

x6 x7 x8 x9 x10 x11

Pearson Correlation

MAAR -.024 -.166 .146 -.149 -.036 -.225

x1 .112 .252 -.033 -.289 .299 -.140

x2 -.154 .218 -.018 -.049 -.211 -.140

x3 -.153 .097 -.001 .270 -.233 -.001

x4 -.047 .495 .493 -.063 -.166 -.081

x5 -.166 -.100 -.072 -.049 -.144 -.081

x6 1.000 -.009 -.339 -.146 .270 .170

x7 -.009 1.000 .357 .046 -.040 .049

x8 -.339 .357 1.000 -.105 -.320 -.154

x9 -.146 .046 -.105 1.000 -.218 -.105

x10 .270 -.040 -.320 -.218 1.000 -.320

x11 .170 .049 -.154 -.105 -.320 1.000

x12 -.122 -.020 -.131 -.089 -.272 -.131

x13 -.033 -.188 -.105 -.071 -.218 -.105

x14 . . . . . .

x15 -.165 -.114 -.073 -.050 -.152 -.073

x16 .144 -.228 -.105 -.071 -.218 -.105

x17 . . . . . .

x18 . . . . . .

Sig. (1-tailed)

MAAR .450 .190 .221 .216 .425 .116

x1 .278 .089 .430 .061 .054 .230

x2 .208 .123 .462 .399 .132 .231

x3 .210 .304 .498 .074 .107 .498

x4 .402 .003 .003 .370 .190 .335

x5 .191 .299 .352 .399 .225 .335

x6 . .482 .033 .221 .074 .184

x7 .482 . .026 .404 .417 .399

x8 .033 .026 . .291 .042 .208

x9 .221 .404 .291 . .123 .291

x10 .074 .417 .042 .123 . .042

x11 .184 .399 .208 .291 .042 .

x12 .261 .458 .246 .320 .073 .246

x13 .431 .160 .291 .354 .123 .291

x14 .000 .000 .000 .000 .000 .000

x15 .192 .275 .351 .397 .212 .351

x16 .224 .113 .291 .354 .123 .291

Correlations

x12 x13 x14 x15 x16 x17

Pearson Correlation

MAAR .350 .014 . -.053 -.069 .

x1 .177 -.200 . -.050 -.039 .

x2 .772 -.096 . -.076 -.100 .

x3 .425 -.126 . -.094 -.126 .

x4 -.011 -.063 . -.044 -.063 .

x5 -.064 -.054 . .999 -.048 .

x6 -.122 -.033 . -.165 .144 .

x7 -.020 -.188 . -.114 -.228 .

x8 -.131 -.105 . -.073 -.105 .

x9 -.089 -.071 . -.050 -.071 .

x10 -.272 -.218 . -.152 -.218 .

x11 -.131 -.105 . -.073 -.105 .

x12 1.000 -.089 . -.062 -.089 .

x13 -.089 1.000 . -.050 -.071 .

x14 . . 1.000 . . .

x15 -.062 -.050 . 1.000 -.050 .

x16 -.089 -.071 . -.050 1.000 .

x17 . . . . . 1.000

x18 . . . . . .

Sig. (1-tailed)

MAAR .029 .471 .000 .390 .359 .000

x1 .174 .144 .000 .397 .420 .000

x2 .000 .308 .000 .345 .300 .000

x3 .010 .253 .000 .310 .253 .000

x4 .476 .370 .000 .408 .370 .000

x5 .368 .387 .000 .000 .401 .000

x6 .261 .431 .000 .192 .224 .000

x7 .458 .160 .000 .275 .113 .000

x8 .246 .291 .000 .351 .291 .000

x9 .320 .354 .000 .397 .354 .000

x10 .073 .123 .000 .212 .123 .000

x11 .246 .291 .000 .351 .291 .000

x12 . .320 .000 .373 .320 .000

x13 .320 . .000 .397 .354 .000

x14 .000 .000 . .000 .000 .000

x15 .373 .397 .000 . .397 .000

x16 .320 .354 .000 .397 . .000

Correlations

x18

Pearson Correlation

MAAR .

x1 .

x2 .

x3 .

x4 .

x5 .

x6 .

x7 .

x8 .

x9 .

x10 .

x11 .

x12 .

x13 .

x14 .

x15 .

x16 .

x17 .

x18 1.000

Sig. (1-tailed)

MAAR .000

x1 .000

x2 .000

x3 .000

x4 .000

x5 .000

x6 .000

x7 .000

x8 .000

x9 .000

x10 .000

x11 .000

x12 .000

x13 .000

x14 .000

x15 .000

x16 .000

Correlations

MAAR x1 x2 x3 x4 x5

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .000

x18 .000 .000 .000 .000 .000 .000

N

MAAR 30 30 30 30 30 30

x1 30 30 30 30 30 30

x2 30 30 30 30 30 30

x3 30 30 30 30 30 30

x4 30 30 30 30 30 30

x5 30 30 30 30 30 30

x6 30 30 30 30 30 30

x7 30 30 30 30 30 30

x8 30 30 30 30 30 30

x9 30 30 30 30 30 30

x10 30 30 30 30 30 30

x11 30 30 30 30 30 30

x12 30 30 30 30 30 30

x13 30 30 30 30 30 30

x14 30 30 30 30 30 30

x15 30 30 30 30 30 30

x16 30 30 30 30 30 30

x17 30 30 30 30 30 30

x18 30 30 30 30 30 30

Correlations

x6 x7 x8 x9 x10 x11

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .000

x18 .000 .000 .000 .000 .000 .000

N

MAAR 30 30 30 30 30 30

x1 30 30 30 30 30 30

x2 30 30 30 30 30 30

x3 30 30 30 30 30 30

x4 30 30 30 30 30 30

x5 30 30 30 30 30 30

x6 30 30 30 30 30 30

x7 30 30 30 30 30 30

x8 30 30 30 30 30 30

x9 30 30 30 30 30 30

x10 30 30 30 30 30 30

x11 30 30 30 30 30 30

x12 30 30 30 30 30 30

x13 30 30 30 30 30 30

x14 30 30 30 30 30 30

x15 30 30 30 30 30 30

x16 30 30 30 30 30 30

Correlations

x12 x13 x14 x15 x16 x17

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .

x18 .000 .000 .000 .000 .000 .000

N

MAAR 30 30 30 30 30 30

x1 30 30 30 30 30 30

x2 30 30 30 30 30 30

x3 30 30 30 30 30 30

x4 30 30 30 30 30 30

x5 30 30 30 30 30 30

x6 30 30 30 30 30 30

x7 30 30 30 30 30 30

x8 30 30 30 30 30 30

x9 30 30 30 30 30 30

x10 30 30 30 30 30 30

x11 30 30 30 30 30 30

x12 30 30 30 30 30 30

x13 30 30 30 30 30 30

x14 30 30 30 30 30 30

x15 30 30 30 30 30 30

x16 30 30 30 30 30 30

x17 30 30 30 30 30 30

x18 30 30 30 30 30 30

Correlations

x18

Sig. (1-tailed) x17 .000

x18 .

N

MAAR 30

x1 30

x2 30

x3 30

x4 30

x5 30

x6 30

x7 30

x8 30

x9 30

x10 30

x11 30

x12 30

x13 30

x14 30

x15 30

x16 30

x17 30

Variables Entered/Removed^a Model Variables

Entered

Variables Removed

Method

1 x2 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

a. Dependent Variable: MAAR

Model Summary

Model R R Square Adjusted R

Square

Std. Error of the Estimate

1 .401^a .161 .131 1.14804759

a. Predictors: (Constant), x2

ANOVA^a

Model Sum of Squares df Mean Square F Sig.

1

Regression 7.069 1 7.069 5.363 .028^b

Residual 36.904 28 1.318

Total 43.973 29

a. Dependent Variable: MAAR b. Predictors: (Constant), x2

Coefficients^a

Model Unstandardized Coefficients Standardized Coefficients

t Sig.

B Std. Error Beta

1 (Constant) .011 .227 .048 .962

x2 .001 .000 .401 2.316 .028

Coefficients^a

Model Collinearity Statistics

Tolerance VIF

1 (Constant)

x2 1.000 1.000

a. Dependent Variable: MAAR

Excluded Variables^a

1

x1 -.015^b -.085 .933 -.016 .995 1.006

x3 -.259^b -1.252 .221 -.234 .685 1.459

x4 -.050^b -.281 .781 -.054 .978 1.023

x5 -.024^b -.139 .891 -.027 .995 1.005

x6 .039^b .217 .830 .042 .976 1.024

x7 -.266^b -1.537 .136 -.284 .952 1.050

x8 .153^b .880 .387 .167 1.000 1.000

x9 -.130^b -.743 .464 -.141 .998 1.002

x10 .051^b .281 .781 .054 .956 1.047

x11 -.172^b -.985 .333 -.186 .980 1.020

x12 .101^b .364 .718 .070 .405 2.471

x13 .053^b .299 .767 .057 .991 1.009

x15 -.023^b -.129 .898 -.025 .994 1.006

x16 -.029^b -.163 .872 -.031 .990 1.010

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

1

x1 .995^b

x3 .685^b

x4 .978^b

x5 .995^b

x6 .976^b

x7 .952^b

x8 1.000^b

x9 .998^b

x10 .956^b

x11 .980^b

x12 .405^b

x13 .991^b

x15 .994^b

x16 .990^b

a. Dependent Variable: MAAR

b. Predictors in the Model: (Constant), x2

Collinearity Diagnostics^a

Model Dimension Eigenvalue Condition Index Variance Proportions (Constant) x2

1 1 1.387 1.000 .31 .31

2 .613 1.503 .69 .69

a. Dependent Variable: MAAR

GET DATA /TYPE=XLSX

/FILE='C:\Users\Trishia Maniulit\Downloads\RAWDATA_UNDERPRICING-v2.xlsx' /SHEET=name 'KLSE07-16'

/CELLRANGE=full /READNAMES=on

/ASSUMEDSTRWIDTH=32767.

EXECUTE.

DATASET NAME DataSet7 WINDOW=FRONT.

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE

/STATISTICS COEFF OUTS R ANOVA COLLIN TOL /CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR

/METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Regression

Notes

Output Created 12-JAN-2021 22:39:30

Comments

Input

Active Dataset DataSet7

Filter <none>

Weight <none>

Split File <none>

N of Rows in Working Data

File 936

Missing Value Handling

Definition of Missing User-defined missing values are treated as missing.

Cases Used

Statistics are based on cases with no missing values for any variable used.

Syntax

REGRESSION

/DESCRIPTIVES MEAN STDDEV CORR SIG N /MISSING LISTWISE /STATISTICS COEFF OUTS R ANOVA COLLIN TOL

/CRITERIA=PIN(.05) POUT(.10)

/NOORIGIN

/DEPENDENT MAAR /METHOD=STEPWISE x1 x2 x3 x4 x5 x6 x7 x8 x9 x10 x11 x12 x13 x14 x15 x16 x17 x18.

Resources

Processor Time 00:00:00.06

Elapsed Time 00:00:00.18

Memory Required 21808 bytes Additional Memory Required

for Residual Plots 0 bytes

Warnings

For models with dependent variable MAAR , the following variables are constants or have missing correlations: x17, x18. They will be deleted from the analysis.

Descriptive Statistics

Mean Std. Deviation N

MAAR .1491087 1.09698907 53

x1 .474585 .2931827 53

x2 221.686226 619.6938149 53

x3 6.53 11.214 53

x4 158.146348 669.6879542 53

x5 126.245283 690.6675396 53

x6 15.270189 22.3333802 53

x7 .290251 .3232597 53

x8 .13 .342 53

x9 .08 .267 53

x10 .34 .478 53

x11 .15 .361 53

x12 .11 .320 53

x13 .04 .192 53

x14 .02 .137 53

x15 .06 .233 53

x16 .08 .267 53

x17 .00 .000 53

x18 .00 .000 53

Correlations

MAAR x1 x2 x3 x4 x5

Pearson Correlation

MAAR 1.000 -.053 .335 .150 .006 -.040

x1 -.053 1.000 .040 -.092 .083 -.039

x2 .335 .040 1.000 .527 .232 -.038

x3 .150 -.092 .527 1.000 -.047 -.061

x4 .006 .083 .232 -.047 1.000 -.028

x5 -.040 -.039 -.038 -.061 -.028 1.000

x6 -.106 .185 -.076 -.089 .022 -.090

x7 -.201 .312 .136 -.018 .392 -.053

x8 .048 .234 -.017 -.044 .275 -.059

x9 .073 -.145 -.054 .263 -.067 -.043

x10 -.031 -.008 -.148 -.160 -.147 -.094

x11 -.204 -.228 -.127 -.063 -.091 -.072

x12 .155 .063 .519 .283 -.031 -.058

x13 .024 -.159 -.056 -.090 -.045 -.032

x14 -.052 .251 -.013 .056 -.030 .057

x15 .075 .012 -.086 .003 -.057 .557

x16 -.045 .066 .013 -.142 .236 -.038

x17 . . . . . .

x18 . . . . . .

Sig. (1-tailed)

MAAR . .352 .007 .142 .483 .389

x1 .352 . .387 .257 .277 .390

x2 .007 .387 . .000 .047 .395

x3 .142 .257 .000 . .370 .332

x4 .483 .277 .047 .370 . .420

x5 .389 .390 .395 .332 .420 .

x6 .224 .092 .294 .264 .438 .260

x7 .075 .011 .165 .450 .002 .353

x8 .366 .046 .452 .378 .023 .337

x9 .301 .151 .350 .029 .318 .379

x10 .413 .478 .145 .127 .146 .251

x11 .072 .051 .182 .328 .259 .303

x12 .135 .327 .000 .020 .413 .341

x13 .434 .128 .345 .262 .374 .411

x14 .356 .035 .463 .346 .415 .343

x15 .296 .466 .271 .491 .342 .000

x16 .375 .319 .463 .155 .044 .394

Correlations

x6 x7 x8 x9 x10 x11

Pearson Correlation

MAAR -.106 -.201 .048 .073 -.031 -.204

x1 .185 .312 .234 -.145 -.008 -.228

x2 -.076 .136 -.017 -.054 -.148 -.127

x3 -.089 -.018 -.044 .263 -.160 -.063

x4 .022 .392 .275 -.067 -.147 -.091

x5 -.090 -.053 -.059 -.043 -.094 -.072

x6 1.000 .223 -.088 -.055 .023 .249

x7 .223 1.000 .155 -.098 -.168 -.111

x8 -.088 .155 1.000 -.111 -.280 -.164

x9 -.055 -.098 -.111 1.000 -.205 -.120

x10 .023 -.168 -.280 -.205 1.000 -.302

x11 .249 -.111 -.164 -.120 -.302 1.000

x12 .060 .319 -.139 -.102 -.256 -.151

x13 -.038 -.109 -.077 -.057 -.142 -.083

x14 .052 .134 -.054 -.040 -.099 -.058

x15 -.020 -.142 -.096 -.070 -.176 -.103

x16 -.266 .102 -.111 -.082 -.205 -.120

x17 . . . . . .

x18 . . . . . .

Sig. (1-tailed)

MAAR .224 .075 .366 .301 .413 .072

x1 .092 .011 .046 .151 .478 .051

x2 .294 .165 .452 .350 .145 .182

x3 .264 .450 .378 .029 .127 .328

x4 .438 .002 .023 .318 .146 .259

x5 .260 .353 .337 .379 .251 .303

x6 . .054 .266 .347 .434 .036

x7 .054 . .134 .243 .114 .215

x8 .266 .134 . .213 .021 .120

x9 .347 .243 .213 . .071 .195

x10 .434 .114 .021 .071 . .014

x11 .036 .215 .120 .195 .014 .

x12 .335 .010 .160 .234 .032 .141

x13 .394 .219 .291 .344 .155 .276

x14 .355 .169 .350 .389 .239 .339

x15 .443 .155 .248 .309 .104 .231

x16 .027 .234 .213 .281 .071 .195

Correlations

x12 x13 x14 x15 x16 x17

Pearson Correlation

MAAR .155 .024 -.052 .075 -.045 .

x1 .063 -.159 .251 .012 .066 .

x2 .519 -.056 -.013 -.086 .013 .

x3 .283 -.090 .056 .003 -.142 .

x4 -.031 -.045 -.030 -.057 .236 .

x5 -.058 -.032 .057 .557 -.038 .

x6 .060 -.038 .052 -.020 -.266 .

x7 .319 -.109 .134 -.142 .102 .

x8 -.139 -.077 -.054 -.096 -.111 .

x9 -.102 -.057 -.040 -.070 -.082 .

x10 -.256 -.142 -.099 -.176 -.205 .

x11 -.151 -.083 -.058 -.103 -.120 .

x12 1.000 -.071 -.050 -.088 -.102 .

x13 -.071 1.000 -.027 -.049 -.057 .

x14 -.050 -.027 1.000 -.034 -.040 .

x15 -.088 -.049 -.034 1.000 -.070 .

x16 -.102 -.057 -.040 -.070 1.000 .

x17 . . . . . 1.000

x18 . . . . . .

Sig. (1-tailed)

MAAR .135 .434 .356 .296 .375 .000

x1 .327 .128 .035 .466 .319 .000

x2 .000 .345 .463 .271 .463 .000

x3 .020 .262 .346 .491 .155 .000

x4 .413 .374 .415 .342 .044 .000

x5 .341 .411 .343 .000 .394 .000

x6 .335 .394 .355 .443 .027 .000

x7 .010 .219 .169 .155 .234 .000

x8 .160 .291 .350 .248 .213 .000

x9 .234 .344 .389 .309 .281 .000

x10 .032 .155 .239 .104 .071 .000

x11 .141 .276 .339 .231 .195 .000

x12 . .307 .362 .267 .234 .000

x13 .307 . .423 .365 .344 .000

x14 .362 .423 . .405 .389 .000

x15 .267 .365 .405 . .309 .000

x16 .234 .344 .389 .309 . .000

Correlations

x18

Pearson Correlation

MAAR .

x1 .

x2 .

x3 .

x4 .

x5 .

x6 .

x7 .

x8 .

x9 .

x10 .

x11 .

x12 .

x13 .

x14 .

x15 .

x16 .

x17 .

x18 1.000

Sig. (1-tailed)

MAAR .000

x1 .000

x2 .000

x3 .000

x4 .000

x5 .000

x6 .000

x7 .000

x8 .000

x9 .000

x10 .000

x11 .000

x12 .000

x13 .000

x14 .000

x15 .000

x16 .000

Correlations

MAAR x1 x2 x3 x4 x5

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .000

x18 .000 .000 .000 .000 .000 .000

N

MAAR 53 53 53 53 53 53

x1 53 53 53 53 53 53

x2 53 53 53 53 53 53

x3 53 53 53 53 53 53

x4 53 53 53 53 53 53

x5 53 53 53 53 53 53

x6 53 53 53 53 53 53

x7 53 53 53 53 53 53

x8 53 53 53 53 53 53

x9 53 53 53 53 53 53

x10 53 53 53 53 53 53

x11 53 53 53 53 53 53

x12 53 53 53 53 53 53

x13 53 53 53 53 53 53

x14 53 53 53 53 53 53

x15 53 53 53 53 53 53

x16 53 53 53 53 53 53

x17 53 53 53 53 53 53

x18 53 53 53 53 53 53

Correlations

x6 x7 x8 x9 x10 x11

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .000

x18 .000 .000 .000 .000 .000 .000

N

MAAR 53 53 53 53 53 53

x1 53 53 53 53 53 53

x2 53 53 53 53 53 53

x3 53 53 53 53 53 53

x4 53 53 53 53 53 53

x5 53 53 53 53 53 53

x6 53 53 53 53 53 53

x7 53 53 53 53 53 53

x8 53 53 53 53 53 53

x9 53 53 53 53 53 53

x10 53 53 53 53 53 53

x11 53 53 53 53 53 53

x12 53 53 53 53 53 53

x13 53 53 53 53 53 53

x14 53 53 53 53 53 53

x15 53 53 53 53 53 53

x16 53 53 53 53 53 53

x17 53 53 53 53 53 53

Correlations

x12 x13 x14 x15 x16 x17

Sig. (1-tailed) x17 .000 .000 .000 .000 .000 .

x18 .000 .000 .000 .000 .000 .000

N

MAAR 53 53 53 53 53 53

x1 53 53 53 53 53 53

x2 53 53 53 53 53 53

x3 53 53 53 53 53 53

x4 53 53 53 53 53 53

x5 53 53 53 53 53 53

x6 53 53 53 53 53 53

x7 53 53 53 53 53 53

x8 53 53 53 53 53 53

x9 53 53 53 53 53 53

x10 53 53 53 53 53 53

x11 53 53 53 53 53 53

x12 53 53 53 53 53 53

x13 53 53 53 53 53 53

x14 53 53 53 53 53 53

x15 53 53 53 53 53 53

x16 53 53 53 53 53 53

x17 53 53 53 53 53 53

x18 53 53 53 53 53 53

Correlations

x18

Sig. (1-tailed) x17 .000

x18 .

N

MAAR 53

x1 53

x2 53

x3 53

x4 53

x5 53

x6 53

x7 53

x8 53

x9 53

x10 53

x11 53

x12 53

x13 53

x14 53

x15 53

x16 53

x17 53

x18 53

Variables Entered/Removed^a Model Variables

Entered

Variables Removed

Method

1 x2 .

Stepwise (Criteria:

Probability-of-F- to-enter <= .050, Probability-of-F- to-

remove >= .100) .

a. Dependent Variable: MAAR

Model Summary

Model R R Square Adjusted R

Square Std. Error of the Estimate

1 .335^a .112 .095 1.04377050

a. Predictors: (Constant), x2

ANOVA^a

Model Sum of Squares df Mean Square F Sig.

1

Regression 7.014 1 7.014 6.438 .014^b

Residual 55.562 51 1.089

Total 62.576 52

a. Dependent Variable: MAAR b. Predictors: (Constant), x2

Coefficients^a

Model Unstandardized Coefficients Standardized Coefficients

t Sig.

B Std. Error Beta

1 (Constant) .018 .152 .116 .908

x2 .001 .000 .335 2.537 .014

Coefficients^a

Model Collinearity Statistics

Tolerance VIF

1 (Constant)

x2 1.000 1.000

a. Dependent Variable: MAAR

Excluded Variables^a

Model Beta In t Sig. Partial Collinearity Statistics

x3 -.037^b -.233 .817 -.033 .722 1.385

x4 -.076^b -.555 .581 -.078 .946 1.057

x5 -.027^b -.203 .840 -.029 .999 1.001

x6 -.081^b -.612 .543 -.086 .994 1.006

x7 -.251^b -1.936 .059 -.264 .981 1.019

x8 .054^b .406 .687 .057 1.000 1.000

x9 .092^b .692 .492 .097 .997 1.003

x10 .019^b .141 .889 .020 .978 1.022

x11 -.164^b -1.239 .221 -.173 .984 1.017

x12 -.026^b -.169 .867 -.024 .731 1.369

x13 .042^b .318 .752 .045 .997 1.003

x14 -.047^b -.356 .723 -.050 1.000 1.000

x15 .105^b .787 .435 .111 .993 1.007

x16 -.049^b -.371 .712 -.052 1.000 1.000

Excluded Variables^a

Model Collinearity Statistics

Minimum Tolerance

1

x1 .998^b

x3 .722^b

x4 .946^b

x5 .999^b

x6 .994^b

x7 .981^b

x8 1.000^b

x9 .997^b

x10 .978^b

x11 .984^b

x12 .731^b

x13 .997^b

x14 1.000^b

x15 .993^b

x16 1.000^b

a. Dependent Variable: MAAR

b. Predictors in the Model: (Constant), x2

Collinearity Diagnostics^a

Model Dimension Eigenvalue Condition Index Variance Proportions (Constant) x2

1 1 1.340 1.000 .33 .33

2 .660 1.424 .67 .67

a. Dependent Variable: MAAR

APPENDIX G

PLAGIARISM CONFIRMATION CERTIFICATE

This is to certify that the thesis/Thesis Proposal entitled “A Comparative Study: Underpricing and Long-run Performance of Initial Public Offerings in Singapore Exchange and Bursa

Malaysia from 2007-2016” have taken and passed the online plagiarism tests using TURNITIN software. With this, we further certify that:

a. The submitted thesis is original and represents our own work (that there is no plagiarism: no sentence, figure/table, line, section or paragraph has been copied verbatim from published and unpublished researches or creative works except when any of those mentioned above has been placed quoted or duly referenced).

b. That the data that was used and presented in the study was not manipulated by the proponent (either through falsification or fabrication of resources or materials, omission or switching of data sources/results, and/or other means that could make the study or the results materially good or acceptable). Thus, the information

presented in the study accurately represents the actual data or resources use by the researchers.

We are attaching herewith the original copy of the Digital Receipt generated from TURNITIN Software including the detailed report with unique time stamp. With this, we certify that we understand and are aware of the University policy related to plagiarism and accept the consequences of any plagiarized work that we submitted.

Signed by: Group No. 4

________________________________

Ang, Ann Nicole Louise L.

________________________________

Domingo, Alexa May B.

________________________________

Maniulit, Paula M.

________________________________

Maniulit, Ysabel T.

Date Signed: February 03 , 2021

APPENDIX H

APPENDIX I

DE LA SALLE UNIVERSITY