Page 117 - 33-3

NTU Management Review Vol. 33 No. 3 Dec. 2023

Table 9 Lagged Effect of Goal Consensus
Dependent variable Ab_SENIOR i,t+1 Ab_ADV i,t+1
(t-statistic) (t-statistic)
(1) (2)
0.01 0.39**
CONSENSUS i,t
(0.85) (2.22)
-0.01 0.19*
REGIONAL_AGE i,t
(-0.34) (1.71)
-0.06* 0.81**
REGIONAL_GENDER i,t
(-1.82) (2.25)
0.01 -0.04***
REGIONAL_TENURE i,t
(1.03) (-4.20)
0.47***
SENIOR i,t-1
(22.33)
0.19***
ADV i,t-1
(5.48)
0.01 0.04
MGT_AGE i,t
(0.68) (0.64)
0.01 0.05
MGT_GENDER i,t
(0.82) (0.44)
-0.01** -0.02
MGT_TENURE i,t
(-2.37) (-1.61)
0.01 0.01
PRICE i,t
(0.35) (0.31)
0.01* 0.02
NUM_ENTRUST i,t
(1.90) (1.04)
0.01 -0.06
OFFICE_SIZE i,t
(1.63) (-1.30)
-0.01** 0.01
OFFICE_AGE i,t
(-2.54) (0.27)
0.01 0.89
TURNOVER i,t
(0.20) (1.42)
-0.01*** 0.01
NUM_BRANCH i,t
(-4.72) (0.41)
0.02*** -0.03
CYCLE i,t
(5.43) (-0.81)
-0.04*** -0.34***
INDEX i,t
(-5.39) (-4.27)
MONTH Included Included
REGION Included Included
Model OLS OLS
Adjusted R-Squared 0.32 0.10
F-Value 26.10*** 6.82***
Observations 1,637 1,637
Note: *** p < 0.01, ** p < 0.05, and *p < 0.10 (two-tailed test)
See Table 2 for variable definitions.

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