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INTERDISCIPLINARY JOURNAL OF CONTEMPORARY RESEARCH IN BUSINESS<br />

Annexure<br />

Tables<br />

JUNE 2011<br />

VOL 3, NO 2<br />

Table 1. Relationship between Board Independence and Financial<br />

Variables Dependent variable Dummy = 1 if the size of the<br />

board is larger than 6, 0 otherwise<br />

Significance is measured by t-values and * indicates significance at 1%, ** indicates<br />

significance at 5% and *** indicates significance at 10%<br />

Beta Sig. Exp(B)<br />

ROE 0.111 2.065 1.877<br />

Sector (1) 1.07 2.276 1.343<br />

SIZE -.215 .243 .806<br />

D/E .93* 2.168 1.097<br />

Turnover .01 3.520 1.000<br />

Profit .63 1.190 1.065<br />

Typeind(1) .32** 1.97 1.322<br />

Constant 4.554 .133 95.058<br />

McFadden R 2 0.34<br />

Table 2. Relationship between Board Independence and Financial<br />

Variables Dependent variable Dummy = 1 if board has<br />

independent directors, 0 otherwise<br />

Significance is measured by t-values and * indicates significance at 1%, ** indicates<br />

significance at 5% and *** indicates significance at 10%<br />

Beta Sig. Exp(B)<br />

ROE 0.131* 2.15 1.937<br />

Sector (1) 1.07* 2.276 1.343<br />

SIZE -.215 .243 .806<br />

D/E -0.61* -2.101 1.009<br />

Turnover .01 3.520 1.000<br />

Profit .63 1.190 1.065<br />

Type ind(1) .63* 2.34 1.535<br />

Constant 2.512 .105 6.057<br />

McFadden R 2 0.38<br />

COPY RIGHT © 2011 Institute of Interdisciplinary Business Research 1980

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