INVESTOR #1 ===================== EQUATIONS: EQ_BB1 NOB 924 SBIC 373.521 LOGL -291.576 Standard Parameter Estimate Error t-statistic P-value C_1 -2.28877 .160126 -14.2936 [.000] A2_1 .122456 .025071 4.88448 [.000] P0_1 .120147 .044945 2.67317 [.008] P1_1 -.076757 .013995 -5.48454 [.000] P2_1 -.013763 .013728 -1.00253 [.316] P3_1 -.015160 .011703 -1.29540 [.195] P4_1 .020826 .011543 1.80416 [.071] P5_1 -.409902E-02 .012765 -.321123 [.748] P6_1 .599950E-02 .011611 .516694 [.605] P7_1 -.026891 .012292 -2.18770 [.029] P8_1 .354197E-02 .011262 .314500 [.753] P9_1 .106454E-02 .011159 .095395 [.924] P10_1 .499570E-02 .011237 .444594 [.657] P11_1 -.392082E-02 .011377 -.344617 [.730] P12_1 .050498 .011329 4.45757 [.000] P13_1 -.557855E-02 .010922 -.510780 [.610] P14_1 .797047E-02 .011569 .688963 [.491] P15_1 .319828E-02 .010866 .294350 [.768] P16_1 -.239574E-02 .012147 -.197224 [.844] P17_1 .534058E-03 .012856 .041542 [.967] DI1_1 .069765 .017149 4.06828 [.000] DF1_1 -.627668E-02 .478272E-02 -1.31237 [.189] S1_1 -.057902 .048341 -1.19778 [.231] S2_1 .058698 .016705 3.51386 [.000] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB1 Dependent variable: B2_1 YMEAN .104746 S2 .112992 ARSQ .327296 SDEV .409837 S .336142 LMHET 456.466 [.000] SSR 101.692 RSQ .344059 DW 2.15807 [<1.00] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.037704 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_1 E1 1.0000 B1_1 0.022635 1.00000 INVESTOR #2 ===================== EQUATIONS: EQ_BB2 NOB 924 SBIC 947.464 LOGL -865.519 Standard Parameter Estimate Error t-statistic P-value C_2 -3.11805 .298004 -10.4631 [.000] A2_2 .101047 .046658 2.16570 [.030] P0_2 .349838 .083646 4.18235 [.000] P1_2 -.127555 .026046 -4.89735 [.000] P2_2 -.050346 .025549 -1.97059 [.049] P3_2 -.192550 .021780 -8.84054 [.000] P4_2 .010984 .021483 .511280 [.609] P5_2 .024932 .023756 1.04952 [.294] P6_2 .015047 .021609 .696297 [.486] P7_2 -.049423 .022876 -2.16049 [.031] P8_2 .660880E-02 .020960 .315308 [.753] P9_2 .407840E-02 .020768 .196378 [.844] P10_2 .360666E-02 .020912 .172469 [.863] P11_2 .108616E-02 .021174 .051297 [.959] P12_2 .193319 .021083 9.16933 [.000] P13_2 -.783157E-02 .020326 -.385300 [.700] P14_2 .012166 .021530 .565059 [.572] P15_2 .177671E-02 .020222 .087862 [.930] P16_2 -.969017E-02 .022607 -.428636 [.668] P17_2 .011808 .023925 .493539 [.622] DI1_2 .153095 .031915 4.79699 [.000] DF1_2 -.019625 .890096E-02 -2.20477 [.027] S1_2 -.248457 .089966 -2.76168 [.006] S2_2 .032850 .031089 1.05665 [.291] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB2 Dependent variable: B2_2 YMEAN .103964 S2 .391355 ARSQ .301383 SDEV .748455 S .625583 LMHET 483.645 [.000] SSR 352.219 RSQ .318792 DW 1.83464 [<.076] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.020734 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_2 E1 1.0000 B1_2 -0.039465 1.00000 INVESTOR #3 ===================== EQUATIONS: EQ_BB3 NOB 924 SBIC 1742.21 LOGL -1660.27 Standard Parameter Estimate Error t-statistic P-value C_3 -4.29827 .704313 -6.10278 [.000] A2_3 .014674 .110273 .133068 [.894] P0_3 .885799 .197693 4.48068 [.000] P1_3 -.257732 .061558 -4.18685 [.000] P2_3 -.149622 .060382 -2.47791 [.013] P3_3 -.251802 .051476 -4.89161 [.000] P4_3 .150279 .050773 2.95982 [.003] P5_3 .051928 .056145 .924876 [.355] P6_3 -.053696 .051072 -1.05136 [.293] P7_3 -.117528 .054066 -2.17380 [.030] P8_3 .011536 .049537 .232885 [.816] P9_3 .027853 .049084 .567459 [.570] P10_3 -.150367E-02 .049424 -.030424 [.976] P11_3 .534155E-02 .050043 .106739 [.915] P12_3 .338763 .049829 6.79854 [.000] P13_3 -.284087E-02 .048039 -.059137 [.953] P14_3 .011001 .050885 .216186 [.829] P15_3 .356266E-02 .047792 .074545 [.941] P16_3 -.012723 .053430 -.238121 [.812] P17_3 -.025459 .056546 -.450230 [.653] DI1_3 .258042 .075428 3.42102 [.001] DF1_3 -.032038 .021037 -1.52297 [.128] S1_3 -.694492 .212628 -3.26623 [.001] S2_3 -.020960 .073476 -.285267 [.775] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB3 Dependent variable: B2_3 YMEAN .108225 S2 2.18603 ARSQ .148528 SDEV 1.60230 S 1.47852 LMHET 509.294 [.000] SSR 1967.43 RSQ .169745 DW 2.10149 [<.996] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.062096 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_3 E1 1.0000 B1_3 0.017788 1.0000 INVESTOR #4 ===================== EQUATIONS: EQ_BB4 NOB 924 SBIC 972.535 LOGL -890.590 Standard Parameter Estimate Error t-statistic P-value C_4 -3.15412 .306201 -10.3008 [.000] A2_4 .110271 .047941 2.30012 [.021] P0_4 .307854 .085947 3.58190 [.000] P1_4 -.150212 .026762 -5.61283 [.000] P2_4 -.031265 .026251 -1.19100 [.234] P3_4 -.170626 .022379 -7.62424 [.000] P4_4 .034281 .022074 1.55304 [.120] P5_4 -.019470 .024409 -.797659 [.425] P6_4 -.810631E-02 .022204 -.365087 [.715] P7_4 -.043915 .023505 -1.86829 [.062] P8_4 -.489335E-02 .021536 -.227214 [.820] P9_4 .408226E-03 .021339 .019130 [.985] P10_4 .026489 .021487 1.23278 [.218] P11_4 .826627E-02 .021756 .379948 [.704] P12_4 .168475 .021663 7.77703 [.000] P13_4 -.762306E-02 .020885 -.365003 [.715] P14_4 .012304 .022123 .556162 [.578] P15_4 .866523E-02 .020778 .417044 [.677] P16_4 .566936E-02 .023229 .244066 [.807] P17_4 .020504 .024583 .834073 [.404] DI1_4 .148636 .032793 4.53259 [.000] DF1_4 -.017340 .914578E-02 -1.89600 [.058] S1_4 -.207243 .092440 -2.24191 [.025] S2_4 .037304 .031944 1.16781 [.243] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB4 Dependent variable: B2_4 YMEAN .105437 S2 .413179 ARSQ .266259 SDEV .750408 S .642790 LMHET 494.543 [.000] SSR 371.861 RSQ .284542 DW 1.95082 [<.632] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.00066067 1.0000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_4 E1 1.0000 B1_4 -0.018340 1.00000 INVESTOR #5 ===================== EQUATIONS: EQ_BB5 NOB 924 SBIC 769.951 LOGL -688.007 Standard Parameter Estimate Error t-statistic P-value C_5 -2.55815 .245917 -10.4025 [.000] A2_5 .080065 .038503 2.07947 [.038] P0_5 .220375 .069026 3.19263 [.001] P1_5 -.089361 .021493 -4.15759 [.000] P2_5 -.028087 .021083 -1.33219 [.183] P3_5 -.052041 .017973 -2.89545 [.004] P4_5 .053723 .017728 3.03044 [.002] P5_5 -.853120E-02 .019604 -.435184 [.663] P6_5 -.747333E-02 .017832 -.419087 [.675] P7_5 -.041022 .018878 -2.17304 [.030] P8_5 .390538E-02 .017296 .225793 [.821] P9_5 -.508900E-02 .017138 -.296940 [.767] P10_5 .676151E-02 .017257 .391816 [.695] P11_5 .224251E-02 .017473 .128341 [.898] P12_5 .108980 .017398 6.26389 [.000] P13_5 .420966E-02 .016773 .250975 [.802] P14_5 .984857E-02 .017767 .554315 [.579] P15_5 -.792664E-03 .016687 -.047502 [.962] P16_5 -.429168E-02 .018656 -.230048 [.818] P17_5 -.355628E-02 .019744 -.180124 [.857] DI1_5 .082052 .026337 3.11553 [.002] DF1_5 -.260293E-02 .734520E-02 -.354372 [.723] S1_5 -.129714 .074241 -1.74720 [.081] S2_5 .050074 .025655 1.95183 [.051] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB5 Dependent variable: B2_5 YMEAN .106205 S2 .266504 ARSQ .220472 SDEV .584704 S .516240 LMHET 474.594 [.000] SSR 239.853 RSQ .239897 DW 2.15750 [<1.00] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.060127 1.0000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_5 E1 1.0000 B1_5 -0.015933 1.00000 INVESTOR #6 ===================== EQUATIONS: EQ_BB6 NOB 924 SBIC 261.109 LOGL -179.164 Standard Parameter Estimate Error t-statistic P-value C_6 -1.81403 .141783 -12.7944 [.000] A2_6 .078494 .022199 3.53595 [.000] P0_6 -.252246E-02 .039797 -.063383 [.949] P1_6 -.020314 .012392 -1.63930 [.101] P2_6 -.912076E-03 .012155 -.075034 [.940] P3_6 -.013888 .010363 -1.34022 [.180] P4_6 .320931E-02 .010221 .313993 [.754] P5_6 -.265580E-02 .011302 -.234975 [.814] P6_6 .014587 .010281 1.41884 [.156] P7_6 -.487936E-02 .010884 -.448312 [.654] P8_6 .619248E-02 .997217E-02 .620977 [.535] P9_6 -.013924 .988096E-02 -1.40915 [.159] P10_6 .012682 .994942E-02 1.27460 [.202] P11_6 -.239616E-02 .010074 -.237855 [.812] P12_6 .031846 .010031 3.17477 [.001] P13_6 .192683E-03 .967058E-02 .019925 [.984] P14_6 -.485854E-02 .010244 -.474299 [.635] P15_6 .311669E-02 .962094E-02 .323949 [.746] P16_6 .355634E-02 .010756 .330642 [.741] P17_6 .738405E-02 .011383 .648684 [.517] DI1_6 .046806 .015184 3.08255 [.002] DF1_6 .145384E-02 .423487E-02 .343304 [.731] S1_6 .066906 .042804 1.56309 [.118] S2_6 .042623 .014791 2.88165 [.004] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB6 Dependent variable: B2_6 YMEAN .105356 S2 .088588 ARSQ .270249 SDEV .348418 S .297638 LMHET 143.642 [.000] SSR 79.7293 RSQ .288434 DW 2.05521 [<.973] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.11022 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_6 E1 1.0000 B1_6 -0.0099489 1.00000 INVESTOR #7 ===================== EQUATIONS: EQ_BB7 NOB 924 SBIC 1765.01 LOGL -1683.06 Standard Parameter Estimate Error t-statistic P-value C_7 -1.70575 .721907 -2.36284 [.018] A2_7 -.183795 .113027 -1.62611 [.104] P0_7 -.160343 .202631 -.791306 [.429] P1_7 -.012680 .063095 -.200969 [.841] P2_7 .041909 .061891 .677139 [.498] P3_7 -.040321 .052762 -.764208 [.445] P4_7 -.016042 .052041 -.308247 [.758] P5_7 -.017147 .057548 -.297953 [.766] P6_7 -.047929 .052348 -.915579 [.360] P7_7 .026435 .055416 .477031 [.633] P8_7 .691871E-02 .050774 .136264 [.892] P9_7 -.020354 .050310 -.404579 [.686] P10_7 .733209E-02 .050659 .144735 [.885] P11_7 .036641 .051293 .714335 [.475] P12_7 -.010601 .051073 -.207570 [.836] P13_7 -.023578 .049239 -.478841 [.632] P14_7 -.012953 .052157 -.248346 [.804] P15_7 -.726010E-03 .048986 -.014821 [.988] P16_7 .011281 .054765 .205985 [.837] P17_7 .033946 .057958 .585702 [.558] DI1_7 .168751 .077313 2.18272 [.029] DF1_7 .010322 .021562 .478696 [.632] S1_7 .309084 .217940 1.41821 [.156] S2_7 -.087881 .075311 -1.16691 [.243] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB7 Dependent variable: B2_7 YMEAN .105534 S2 2.29661 ARSQ .716140E-02 SDEV 1.52091 S 1.51546 LMHET 87.8406 [.000] SSR 2066.95 RSQ .031902 DW 1.99133 [<.830] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.012869 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_7 E1 1.0000 B1_7 -0.028580 1.00000 INVESTOR #8 ===================== EQUATIONS: EQ_BB8 NOB 924 SBIC 819.378 LOGL -737.433 Standard Parameter Estimate Error t-statistic P-value C_8 -2.12553 .259430 -8.19309 [.000] A2_8 .148488 .040618 3.65569 [.000] P0_8 -.223955 .072819 -3.07551 [.002] P1_8 .018296 .022674 .806893 [.420] P2_8 -.012281 .022242 -.552175 [.581] P3_8 .056871 .018961 2.99937 [.003] P4_8 -.054613 .018702 -2.92015 [.003] P5_8 .032421 .020681 1.56768 [.117] P6_8 .060113 .018812 3.19543 [.001] P7_8 -.016497 .019915 -.828357 [.407] P8_8 .024599 .018247 1.34814 [.178] P9_8 -.407185E-02 .018080 -.225215 [.822] P10_8 .964934E-02 .018205 .530036 [.596] P11_8 -.017633 .018433 -.956569 [.339] P12_8 .703292E-02 .018354 .383178 [.702] P13_8 .011574 .017695 .654097 [.513] P14_8 .011860 .018743 .632735 [.527] P15_8 .437455E-02 .017604 .248496 [.804] P16_8 .285728E-02 .019681 .145182 [.885] P17_8 .015701 .020828 .753806 [.451] DI1_8 .014859 .027784 .534823 [.593] DF1_8 .384641E-02 .774880E-02 .496387 [.620] S1_8 .277510 .078320 3.54326 [.000] S2_8 .092861 .027064 3.43109 [.001] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB8 Dependent variable: B2_8 YMEAN .108225 S2 .296596 ARSQ .147139 SDEV .589717 S .544606 LMHET 247.146 [.000] SSR 266.937 RSQ .168391 DW 2.03461 [<.946] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.10933 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_8 E1 1.0000 B1_8 0.086346 1.00000 INVESTOR #9 ===================== EQUATIONS: EQ_BB9 NOB 924 SBIC 1102.46 LOGL -1020.51 Standard Parameter Estimate Error t-statistic P-value C_9 -2.95263 .352429 -8.37795 [.000] A2_9 .027357 .055179 .495785 [.620] P0_9 .664887 .098923 6.72128 [.000] P1_9 -.260266 .030803 -8.44950 [.000] P2_9 -.083277 .030215 -2.75619 [.006] P3_9 -.129214 .025758 -5.01647 [.000] P4_9 .093979 .025406 3.69905 [.000] P5_9 -.017001 .028094 -.605142 [.545] P6_9 -.029476 .025556 -1.15339 [.249] P7_9 -.056799 .027054 -2.09948 [.036] P8_9 -.570217E-02 .024788 -.230040 [.818] P9_9 .013662 .024561 .556258 [.578] P10_9 -.717830E-02 .024731 -.290254 [.772] P11_9 .630547E-02 .025041 .251807 [.801] P12_9 .177228 .024934 7.10797 [.000] P13_9 -.250624E-02 .024038 -.104261 [.917] P14_9 .014794 .025462 .581012 [.561] P15_9 -.825863E-02 .023915 -.345338 [.730] P16_9 -.021893 .026736 -.818868 [.413] P17_9 -.032231 .028295 -1.13910 [.255] DI1_9 .133345 .037743 3.53295 [.000] DF1_9 -.974347E-02 .010527 -.925609 [.355] S1_9 -.522325 .106396 -4.90924 [.000] S2_9 -.146080E-02 .036766 -.039732 [.968] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB9 Dependent variable: B2_9 YMEAN .108225 S2 .547353 ARSQ .236995 SDEV .846974 S .739833 LMHET 457.095 [.000] SSR 492.618 RSQ .256008 DW 1.62431 [<.000] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.035687 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_9 E1 1.0000 B1_9 -0.0027153 1.00000 INVESTOR #10 ====================== EQUATIONS: EQ_BB10 NOB 924 SBIC 400.839 LOGL -318.894 Standard Parameter Estimate Error t-statistic P-value C_10 -1.18865 .164930 -7.20697 [.000] A2_10 -.041347 .025823 -1.60117 [.109] P0_10 .047116 .046294 1.01775 [.309] P1_10 -.510302E-02 .014415 -.354007 [.723] P2_10 -.017343 .014140 -1.22654 [.220] P3_10 .089881 .012054 7.45635 [.000] P4_10 .032121 .011890 2.70161 [.007] P5_10 .880967E-02 .013148 .670056 [.503] P6_10 -.257772E-02 .011960 -.215534 [.829] P7_10 -.014741 .012661 -1.16432 [.244] P8_10 .173393E-02 .011600 .149475 [.881] P9_10 .010707 .011494 .931564 [.352] P10_10 .560172E-02 .011574 .484004 [.628] P11_10 .396713E-02 .011719 .338530 [.735] P12_10 .019697 .011668 1.68809 [.091] P13_10 .616300E-02 .011249 .547854 [.584] P14_10 -.014427 .011916 -1.21075 [.226] P15_10 -.267923E-02 .011192 -.239397 [.811] P16_10 .011716 .012512 .936433 [.349] P17_10 -.751587E-02 .013241 -.567600 [.570] DI1_10 .033060 .017663 1.87167 [.061] DF1_10 .689250E-02 .492623E-02 1.39914 [.162] S1_10 .035896 .049792 .720917 [.471] S2_10 .800059E-02 .017206 .464989 [.642] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB10 Dependent variable: B2_10 YMEAN .105219 S2 .119874 ARSQ .214256 SDEV .390591 S .346229 LMHET 646.051 [.000] SSR 107.887 RSQ .233836 DW 2.00673 [<.882] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.058072 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_10 E1 1.0000 B1_10 0.038314 1.00000 INVESTOR #11 ====================== EQUATIONS: EQ_BB11 NOB 924 SBIC 896.129 LOGL -814.184 Standard Parameter Estimate Error t-statistic P-value C_11 -2.38157 .281900 -8.44830 [.000] A2_11 .159816 .044136 3.62096 [.000] P0_11 -.220098 .079126 -2.78161 [.005] P1_11 -.690687E-02 .024638 -.280331 [.779] P2_11 -.570963E-02 .024168 -.236248 [.813] P3_11 .080294 .020603 3.89715 [.000] P4_11 -.050952 .020322 -2.50726 [.012] P5_11 .016739 .022472 .744880 [.456] P6_11 .049668 .020442 2.42977 [.015] P7_11 -.816091E-02 .021640 -.377126 [.706] P8_11 .042379 .019827 2.13741 [.033] P9_11 -.015639 .019646 -.796031 [.426] P10_11 .047497 .019782 2.40102 [.016] P11_11 -.034216 .020030 -1.70826 [.088] P12_11 -.473315E-02 .019944 -.237324 [.812] P13_11 -.011778 .019227 -.612547 [.540] P14_11 .012499 .020367 .613679 [.539] P15_11 .988729E-02 .019129 .516881 [.605] P16_11 .766491E-02 .021385 .358421 [.720] P17_11 .028664 .022632 1.26651 [.205] DI1_11 .053879 .030190 1.78468 [.074] DF1_11 -.577158E-02 .841994E-02 -.685466 [.493] S1_11 .282415 .085104 3.31847 [.001] S2_11 .077802 .029409 2.64555 [.008] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB11 Dependent variable: B2_11 YMEAN .106997 S2 .350198 ARSQ .158373 SDEV .645056 S .591776 LMHET 391.061 [.000] SSR 315.178 RSQ .179346 DW 2.01777 [<.912] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.10261 1.0000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_11 E1 1.0000 B1_11 0.095211 1.0000 INVESTOR #12 ====================== EQUATIONS: EQ_BB12 NOB 924 SBIC 1117.20 LOGL -1035.25 Standard Parameter Estimate Error t-statistic P-value C_12 -2.38463 .358096 -6.65919 [.000] A2_12 .042251 .056066 .753594 [.451] P0_12 .208251 .100513 2.07187 [.038] P1_12 -.072795 .031298 -2.32587 [.020] P2_12 -.769366E-02 .030700 -.250604 [.802] P3_12 -.015517 .026172 -.592874 [.553] P4_12 -.166793E-02 .025815 -.064612 [.948] P5_12 -.029113 .028546 -1.01985 [.308] P6_12 -.025595 .025967 -.985671 [.324] P7_12 -.031673 .027489 -1.15222 [.249] P8_12 -.023275 .025186 -.924098 [.355] P9_12 .012282 .024956 .492130 [.623] P10_12 .541318E-02 .025129 .215417 [.829] P11_12 .010495 .025444 .412471 [.680] P12_12 .117814 .025335 4.65034 [.000] P13_12 -.018502 .024425 -.757524 [.449] P14_12 .167770E-02 .025872 .064846 [.948] P15_12 -.012376 .024299 -.509329 [.611] P16_12 -.303291E-02 .027166 -.111645 [.911] P17_12 -.011632 .028750 -.404599 [.686] DI1_12 .112802 .038350 2.94136 [.003] DF1_12 -.282893E-02 .010696 -.264489 [.791] S1_12 -.145339 .108107 -1.34440 [.179] S2_12 .048221 .037358 1.29080 [.197] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB12 Dependent variable: B2_12 YMEAN .108225 S2 .565098 ARSQ .105142 SDEV .794666 S .751730 LMHET 78.2997 [.000] SSR 508.589 RSQ .127440 DW 2.01149 [<.896] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.022143 1.0000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_12 E1 1.0000 B1_12 -0.00081995 1.0000 INVESTOR #13 ====================== EQUATIONS: EQ_BB13 NOB 924 SBIC 646.276 LOGL -564.331 Standard Parameter Estimate Error t-statistic P-value C_13 -1.24668 .215110 -5.79554 [.000] A2_13 .067929 .033679 2.01693 [.044] P0_13 -.092356 .060379 -1.52961 [.126] P1_13 .029312 .018801 1.55910 [.119] P2_13 -.677320E-02 .018442 -.367273 [.713] P3_13 -.034276 .015722 -2.18017 [.029] P4_13 -.023504 .015507 -1.51572 [.130] P5_13 .883264E-03 .017148 .051509 [.959] P6_13 .053891 .015598 3.45489 [.001] P7_13 .818377E-02 .016513 .495606 [.620] P8_13 -.012608 .015129 -.833317 [.405] P9_13 -.014417 .014991 -.961697 [.336] P10_13 -.205996E-02 .015095 -.136467 [.891] P11_13 -.973116E-02 .015284 -.636687 [.524] P12_13 .175771E-02 .015219 .115497 [.908] P13_13 -.583761E-02 .014672 -.397877 [.691] P14_13 .040187 .015541 2.58584 [.010] P15_13 .381851E-02 .014597 .261603 [.794] P16_13 .010723 .016318 .657114 [.511] P17_13 .749042E-02 .017270 .433721 [.664] DI1_13 .013933 .023037 .604790 [.545] DF1_13 .740935E-02 .642501E-02 1.15320 [.249] S1_13 .137044 .064940 2.11030 [.035] S2_13 .040182 .022441 1.79059 [.073] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB13 Dependent variable: B2_13 YMEAN .105522 S2 .203913 ARSQ .086816 SDEV .472545 S .451567 LMHET 81.6538 [.000] SSR 183.521 RSQ .109571 DW 2.02834 [<.935] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.036213 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_13 E1 1.0000 B1_13 0.037420 1.00000 INVESTOR #14 ====================== EQUATIONS: EQ_BB14 NOB 924 SBIC 497.875 LOGL -415.930 Standard Parameter Estimate Error t-statistic P-value C_14 -1.27682 .183193 -6.96981 [.000] A2_14 .849401E-02 .028682 .296143 [.767] P0_14 .126506 .051420 2.46024 [.014] P1_14 -.036969 .016011 -2.30893 [.021] P2_14 -.369227E-02 .015706 -.235093 [.814] P3_14 -.059387 .013389 -4.43547 [.000] P4_14 .028130 .013206 2.13009 [.033] P5_14 -.998147E-02 .014603 -.683498 [.494] P6_14 .053976 .013284 4.06321 [.000] P7_14 -.794447E-02 .014063 -.564936 [.572] P8_14 .014029 .012885 1.08884 [.276] P9_14 -.031387 .012767 -2.45844 [.014] P10_14 -.015566 .012855 -1.21088 [.226] P11_14 -.157528E-02 .013016 -.121023 [.904] P12_14 .079750 .012961 6.15328 [.000] P13_14 .222149E-02 .012495 .177790 [.859] P14_14 .017840 .013235 1.34788 [.178] P15_14 -.221896E-02 .012431 -.178504 [.858] P16_14 .124969E-02 .013897 .089923 [.928] P17_14 -.882054E-02 .014708 -.599722 [.549] DI1_14 .052064 .019619 2.65377 [.008] DF1_14 .603728E-02 .547171E-02 1.10336 [.270] S1_14 -.086944 .055305 -1.57208 [.116] S2_14 .028651 .019111 1.49917 [.134] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB14 Dependent variable: B2_14 YMEAN .106312 S2 .147891 ARSQ .183253 SDEV .425527 S .384566 LMHET 41.0178 [.000] SSR 133.102 RSQ .203605 DW 2.01160 [<.896] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.022905 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_14 E1 1.0000 B1_14 0.018716 1.00000 INVESTOR #15 ====================== EQUATIONS: EQ_BB15 NOB 924 SBIC 1241.99 LOGL -1160.04 Standard Parameter Estimate Error t-statistic P-value C_15 -2.06142 .409877 -5.02936 [.000] A2_15 -.176525 .064174 -2.75075 [.006] P0_15 .481108 .115048 4.18181 [.000] P1_15 -.073704 .035824 -2.05740 [.040] P2_15 -.109406 .035140 -3.11346 [.002] P3_15 .075178 .029957 2.50955 [.012] P4_15 .111748 .029548 3.78199 [.000] P5_15 .041832 .032674 1.28030 [.200] P6_15 -.070610 .029722 -2.37571 [.018] P7_15 -.050605 .031464 -1.60837 [.108] P8_15 -.552208E-02 .028828 -.191551 [.848] P9_15 .029517 .028565 1.03335 [.301] P10_15 .012401 .028762 .431136 [.666] P11_15 .025064 .029123 .860623 [.389] P12_15 .106199 .028998 3.66231 [.000] P13_15 .019667 .027956 .703501 [.482] P14_15 -.024882 .029613 -.840254 [.401] P15_15 .672882E-03 .027813 .024193 [.981] P16_15 .010492 .031094 .337437 [.736] P17_15 -.942165E-02 .032907 -.286311 [.775] DI1_15 .159545 .043896 3.63463 [.000] DF1_15 .590341E-03 .012242 .048221 [.962] S1_15 -.322367 .123739 -2.60521 [.009] S2_15 -.066277 .042759 -1.54999 [.121] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB15 Dependent variable: B2_15 YMEAN .107989 S2 .740340 ARSQ .133522 SDEV .924351 S .860430 LMHET 453.886 [.000] SSR 666.306 RSQ .155114 DW 1.93246 [<.523] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.039118 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_15 E1 1.0000 B1_15 0.011076 1.00000 INVESTOR #16 ====================== EQUATIONS: EQ_BB16 NOB 924 SBIC 1666.53 LOGL -1584.59 Standard Parameter Estimate Error t-statistic P-value C_16 -4.12847 .648926 -6.36201 [.000] A2_16 .311057E-02 .101601 .030616 [.976] P0_16 .805943 .182146 4.42471 [.000] P1_16 -.212968 .056717 -3.75494 [.000] P2_16 -.142607 .055634 -2.56331 [.010] P3_16 -.214601 .047428 -4.52477 [.000] P4_16 .128831 .046780 2.75396 [.006] P5_16 .050474 .051730 .975728 [.329] P6_16 -.050872 .047056 -1.08110 [.280] P7_16 -.108848 .049814 -2.18508 [.029] P8_16 .954026E-02 .045641 .209026 [.834] P9_16 .027580 .045224 .609852 [.542] P10_16 .017857 .045537 .392138 [.695] P11_16 .333150E-03 .046108 .722547E-02 [.994] P12_16 .313992 .045910 6.83926 [.000] P13_16 -.453091E-02 .044261 -.102368 [.918] P14_16 .644833E-02 .046884 .137539 [.891] P15_16 .557159E-02 .044034 .126530 [.899] P16_16 -.711535E-02 .049228 -.144538 [.885] P17_16 -.016067 .052099 -.308387 [.758] DI1_16 .247147 .069497 3.55623 [.000] DF1_16 -.028933 .019382 -1.49274 [.136] S1_16 -.610332 .195907 -3.11542 [.002] S2_16 -.028641 .067698 -.423077 [.672] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB16 Dependent variable: B2_16 YMEAN .108225 S2 1.85573 ARSQ .149106 SDEV 1.47679 S 1.36225 LMHET 514.694 [.000] SSR 1670.16 RSQ .170310 DW 2.09452 [<.994] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.059409 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_16 E1 1.0000 B1_16 0.0045384 1.00000 INVESTOR #17 ====================== EQUATIONS: EQ_BB17 NOB 924 SBIC 1317.98 LOGL -1236.04 Standard Parameter Estimate Error t-statistic P-value C_17 -2.75280 .445013 -6.18588 [.000] A2_17 .045787 .069675 .657156 [.511] P0_17 .110391 .124910 .883762 [.377] P1_17 -.067964 .038895 -1.74739 [.081] P2_17 .025401 .038152 .665774 [.506] P3_17 -.026146 .032525 -.803891 [.421] P4_17 -.844482E-02 .032080 -.263239 [.792] P5_17 .073877 .035475 2.08251 [.037] P6_17 -.012303 .032270 -.381248 [.703] P7_17 -.041782 .034161 -1.22309 [.221] P8_17 .299404E-02 .031300 .095658 [.924] P9_17 -.018918 .031013 -.609991 [.542] P10_17 .017932 .031228 .574232 [.566] P11_17 -.990129E-02 .031619 -.313141 [.754] P12_17 .251479 .031484 7.98756 [.000] P13_17 -.018542 .030353 -.610884 [.541] P14_17 .019167 .032151 .596161 [.551] P15_17 .107423E-02 .030197 .035574 [.972] P16_17 -.015533 .033759 -.460118 [.645] P17_17 .023375 .035728 .654254 [.513] DI1_17 .188234 .047659 3.94963 [.000] DF1_17 -.019003 .013292 -1.42965 [.153] S1_17 -.014337 .134347 -.106718 [.915] S2_17 -.338481E-02 .046425 -.072909 [.942] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) LINE 47 Time Series Processor v4.4 (06 01/25/00 9:12 PM PAGE 7 Equation: EQ_BB17 Dependent variable: B2_17 YMEAN .108225 S2 .872712 ARSQ .130596 SDEV 1.00190 S .934191 LMHET 276.082 [.000] SSR 785.441 RSQ .152260 DW 1.87290 [<.198] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.022279 1.0000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_17 E1 1.0000 B1_17 0.015350 1.00000 INVESTOR #19 ====================== EQUATIONS: EQ_BB19 NOB 924 SBIC 1705.72 LOGL -1623.78 Standard Parameter Estimate Error t-statistic P-value C_19 -2.18915 .677042 -3.23340 [.001] A2_19 -.580350E-02 .106003 -.054748 [.956] P0_19 .116282 .190038 .611888 [.541] P1_19 -.058132 .059174 -.982399 [.326] P2_19 -.014977 .058044 -.258032 [.796] P3_19 .192566 .049483 3.89156 [.000] P4_19 .071885 .048807 1.47284 [.141] P5_19 -.017074 .053971 -.316354 [.752] P6_19 .144512 .049095 2.94353 [.003] P7_19 -.050899 .051972 -.979338 [.327] P8_19 -.039821 .047619 -.836232 [.403] P9_19 .035324 .047183 .748647 [.454] P10_19 .057797 .047510 1.21652 [.224] P11_19 .021445 .048106 .445798 [.656] P12_19 .253874E-02 .047899 .053002 [.958] P13_19 -.021376 .046179 -.462903 [.643] P14_19 -.959092E-03 .048915 -.019607 [.984] P15_19 .192256E-04 .045942 .418477E-03 [1.00] P16_19 .010049 .051361 .195649 [.845] P17_19 -.055839 .054357 -1.02727 [.304] DI1_19 .073156 .072508 1.00894 [.313] DF1_19 .933922E-03 .020222 .046183 [.963] S1_19 .057941 .204395 .283475 [.777] S2_19 -.037229 .070631 -.527086 [.598] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB19 Dependent variable: B2_19 YMEAN .108225 S2 2.02002 ARSQ .041571 SDEV 1.45177 S 1.42127 LMHET 152.787 [.000] SSR 1818.02 RSQ .065454 DW 2.01703 [<.910] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.011977 1.0000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_19 E1 1.0000 B1_19 0.013733 1.00000 INVESTOR #20 ====================== EQUATIONS: EQ_BB20 NOB 924 SBIC 924.544 LOGL -842.599 Standard Parameter Estimate Error t-statistic P-value C_20 -1.94572 .290703 -6.69315 [.000] A2_20 .061971 .045515 1.36156 [.173] P0_20 .144590 .081597 1.77200 [.076] P1_20 -.078152 .025408 -3.07591 [.002] P2_20 .016461 .024923 .660484 [.509] P3_20 -.119808 .021247 -5.63893 [.000] P4_20 .041891 .020956 1.99894 [.046] P5_20 .219668E-02 .023174 .094791 [.924] P6_20 -.055790 .021080 -2.64660 [.008] P7_20 -.021721 .022316 -.973356 [.330] P8_20 -.021094 .020446 -1.03167 [.302] P9_20 .015091 .020259 .744913 [.456] P10_20 -.990009E-02 .020400 -.485307 [.627] P11_20 .018501 .020655 .895731 [.370] P12_20 .102340 .020567 4.97600 [.000] P13_20 .054486 .019828 2.74797 [.006] P14_20 .315050E-02 .021003 .150003 [.881] P15_20 .285649E-02 .019726 .144807 [.885] P16_20 -.614506E-02 .022053 -.278648 [.781] P17_20 .261017E-02 .023339 .111836 [.911] DI1_20 .093121 .031133 2.99109 [.003] DF1_20 -.430301E-02 .868289E-02 -.495574 [.620] S1_20 -.079935 .087762 -.910824 [.362] S2_20 .019039 .030327 .627793 [.530] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB20 Dependent variable: B2_20 YMEAN .094225 S2 .372413 ARSQ .144141 SDEV .659647 S .610257 LMHET 26.3371 [.000] SSR 335.172 RSQ .165468 DW 2.01369 [<.902] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.030674 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_20 E1 1.0000 B1_20 0.053002 1.00000 INVESTOR #21 ====================== EQUATIONS: EQ_BB21 NOB 924 SBIC 1006.38 LOGL -924.433 Standard Parameter Estimate Error t-statistic P-value C_21 -1.64617 .317624 -5.18277 [.000] A2_21 .057061 .049730 1.14742 [.251] P0_21 .122364 .089153 1.37251 [.170] P1_21 -.079323 .027761 -2.85740 [.004] P2_21 .011687 .027231 .429194 [.668] P3_21 -.086943 .023214 -3.74523 [.000] P4_21 .041787 .022897 1.82501 [.068] P5_21 -.020996 .025320 -.829238 [.407] P6_21 .065469 .023032 2.84250 [.004] P7_21 -.030957 .024382 -1.26967 [.204] P8_21 .617017E-02 .022340 .276197 [.782] P9_21 .503077E-03 .022135 .022727 [.982] P10_21 .427064E-02 .022289 .191605 [.848] P11_21 .064105 .022568 2.84053 [.005] P12_21 .043740 .022471 1.94649 [.052] P13_21 -.906363E-02 .021664 -.418372 [.676] P14_21 -.013457 .022948 -.586405 [.558] P15_21 -.453079E-02 .021553 -.210217 [.833] P16_21 -.200071E-02 .024095 -.083033 [.934] P17_21 -.025963 .025501 -1.01814 [.309] DI1_21 .056954 .034016 1.67434 [.094] DF1_21 -.136773E-02 .948697E-02 -.144170 [.885] S1_21 -.073238 .095889 -.763777 [.445] S2_21 .040133 .033135 1.21119 [.226] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB21 Dependent variable: B2_21 YMEAN .106299 S2 .444581 ARSQ .079586 SDEV .694998 S .666769 LMHET 174.860 [.000] SSR 400.123 RSQ .102521 DW 2.08777 [<.992] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.077837 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_21 E1 1.0000 B1_21 0.067486 1.00000 INVESTOR #22 ====================== EQUATIONS: EQ_BB22 NOB 924 SBIC 1179.07 LOGL -1097.13 Standard Parameter Estimate Error t-statistic P-value C_22 -1.96516 .382898 -5.13233 [.000] A2_22 .149421 .059950 2.49244 [.013] P0_22 -.017822 .107475 -.165821 [.868] P1_22 -.033931 .033466 -1.01392 [.311] P2_22 .038761 .032827 1.18076 [.238] P3_22 -.076692 .027985 -2.74047 [.006] P4_22 .053182 .027603 1.92669 [.054] P5_22 -.017943 .030523 -.587857 [.557] P6_22 .010777 .027765 .388137 [.698] P7_22 -.014763 .029393 -.502253 [.615] P8_22 .038308 .026931 1.42246 [.155] P9_22 -.033748 .026684 -1.26472 [.206] P10_22 -.012350 .026869 -.459627 [.646] P11_22 -.035026 .027206 -1.28744 [.198] P12_22 .142569 .027089 5.26293 [.000] P13_22 .287471E-02 .026116 .110073 [.912] P14_22 .058106 .027664 2.10044 [.036] P15_22 .016635 .025982 .640241 [.522] P16_22 .013149 .029047 .452676 [.651] P17_22 .057943 .030741 1.88486 [.059] DI1_22 .028960 .041007 .706222 [.480] DF1_22 -.301363E-02 .011437 -.263507 [.792] S1_22 .082762 .115595 .715962 [.474] S2_22 .054339 .039945 1.36033 [.174] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB22 Dependent variable: B2_22 YMEAN .103878 S2 .646089 ARSQ .073904 SDEV .835253 S .803796 LMHET 134.042 [.000] SSR 581.480 RSQ .096981 DW 2.10409 [<.996] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.034056 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_22 E1 1.0000 B1_22 0.034308 1.00000 INVESTOR #23 ====================== EQUATIONS: EQ_BB23 NOB 924 SBIC 1968.00 LOGL -1886.06 Standard Parameter Estimate Error t-statistic P-value C_23 -2.16116 .899276 -2.40323 [.016] A2_23 .066057 .140798 .469161 [.639] P0_23 .240454 .252417 .952608 [.341] P1_23 -.179850 .078597 -2.28824 [.022] P2_23 .036670 .077097 .475628 [.634] P3_23 .214609 .065726 3.26523 [.001] P4_23 -.389344E-02 .064828 -.060058 [.952] P5_23 -.111939 .071687 -1.56149 [.118] P6_23 -.085539 .065210 -1.31175 [.190] P7_23 -.140129E-02 .069032 -.020299 [.984] P8_23 -.077635 .063250 -1.22744 [.220] P9_23 .041729 .062671 .665834 [.506] P10_23 -.951542E-02 .063105 -.150787 [.880] P11_23 -.040394 .063896 -.632190 [.527] P12_23 -.032245 .063622 -.506824 [.612] P13_23 -.037285 .061337 -.607880 [.543] P14_23 .023865 .064971 .367310 [.713] P15_23 -.287567E-02 .061022 -.047125 [.962] P16_23 -.948012E-02 .068220 -.138964 [.889] P17_23 .242617E-02 .072199 .033604 [.973] DI1_23 .050770 .096308 .527167 [.598] DF1_23 .415424E-02 .026860 .154662 [.877] S1_23 -.170266 .271486 -.627164 [.531] S2_23 .060129 .093815 .640934 [.522] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB23 Dependent variable: B2_23 YMEAN .099125 S2 3.56378 ARSQ .015810 SDEV 1.90290 S 1.88780 LMHET 129.480 [.000] SSR 3207.40 RSQ .040335 DW 2.00666 [<.882] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.013190 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_23 E1 1.0000 B1_23 -0.0022641 1.00000 INVESTOR #24 ====================== EQUATIONS: EQ_BB24 NOB 924 SBIC 1241.99 LOGL -1160.04 Standard Parameter Estimate Error t-statistic P-value C_24 -2.06142 .409877 -5.02936 [.000] A2_24 -.176525 .064174 -2.75075 [.006] P0_24 .481108 .115048 4.18181 [.000] P1_24 -.073704 .035824 -2.05740 [.040] P2_24 -.109406 .035140 -3.11346 [.002] P3_24 .075178 .029957 2.50955 [.012] P4_24 .111748 .029548 3.78199 [.000] P5_24 .041832 .032674 1.28030 [.200] P6_24 -.070610 .029722 -2.37571 [.018] P7_24 -.050605 .031464 -1.60837 [.108] P8_24 -.552208E-02 .028828 -.191551 [.848] P9_24 .029517 .028565 1.03335 [.301] P10_24 .012401 .028762 .431136 [.666] P11_24 .025064 .029123 .860623 [.389] P12_24 .106199 .028998 3.66231 [.000] P13_24 .019667 .027956 .703501 [.482] P14_24 -.024882 .029613 -.840254 [.401] P15_24 .672882E-03 .027813 .024193 [.981] P16_24 .010492 .031094 .337437 [.736] P17_24 -.942165E-02 .032907 -.286311 [.775] DI1_24 .159545 .043896 3.63463 [.000] DF1_24 .590341E-03 .012242 .048221 [.962] S1_24 -.322367 .123739 -2.60521 [.009] S2_24 -.066277 .042759 -1.54999 [.121] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB24 Dependent variable: B2_24 YMEAN .107989 S2 .740340 ARSQ .133522 SDEV .924351 S .860430 LMHET 453.886 [.000] SSR 666.306 RSQ .155114 DW 1.93246 [<.523] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 -0.039118 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_24 E1 1.0000 B1_24 0.011076 1.00000 INVESTOR #25 ====================== EQUATIONS: EQ_BB25 NOB 924 SBIC 981.889 LOGL -899.945 Standard Parameter Estimate Error t-statistic P-value C_25 -1.73472 .309317 -5.60825 [.000] A2_25 .100765 .048429 2.08067 [.037] P0_25 -.074738 .086822 -.860822 [.389] P1_25 .565667E-02 .027035 .209239 [.834] P2_25 -.854096E-02 .026518 -.322076 [.747] P3_25 .065032 .022607 2.87664 [.004] P4_25 .018938 .022298 .849322 [.396] P5_25 -.019913 .024658 -.807560 [.419] P6_25 .014212 .022430 .633623 [.526] P7_25 -.026883 .023744 -1.13220 [.258] P8_25 -.020076 .021755 -.922819 [.356] P9_25 -.377124E-02 .021556 -.174947 [.861] P10_25 -.374692E-02 .021706 -.172623 [.863] P11_25 .027117 .021978 1.23385 [.217] P12_25 .529057E-03 .021884 .024176 [.981] P13_25 -.018383 .021097 -.871319 [.384] P14_25 -.899928E-02 .022348 -.402695 [.687] P15_25 -.168498E-02 .020989 -.080278 [.936] P16_25 .011012 .023465 .469298 [.639] P17_25 -.013880 .024834 -.558932 [.576] DI1_25 .844941E-02 .033126 .255067 [.799] DF1_25 .739404E-02 .923884E-02 .800321 [.424] S1_25 .132537 .093381 1.41931 [.156] S2_25 .066066 .032269 2.04736 [.041] Standard Errors computed from quadratic form of analytic first derivatives (Gauss) Equation: EQ_BB25 Dependent variable: B2_25 YMEAN .108225 S2 .421630 ARSQ .065816 SDEV .671815 S .649330 LMHET 32.9011 [.000] SSR 379.467 RSQ .089094 DW 1.92187 [<.459] Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 E2 E1 1.0000 E2 0.059577 1.00000 Results of Covariance procedure =============================== Number of Observations: 924 Correlation Matrix E1 B1_25 E1 1.0000 B1_25 0.054800 1.00000