Research Methods

Running head: Research Methods
Research Methods
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1
Research Methods
Table of Contents
Introduction................................................................................................................................2
Part I: Regression analysis.........................................................................................................2
Regression analysis....................................................................................................................2
Step 3: Empirical Discussions....................................................................................................4
1) Report resulting......................................................................................................................4
2) Description of the results.......................................................................................................6
3. Discussion of findings relating with relevant literature.......................................................11
4. Optional Opportunity for Individual Initiative.....................................................................11
Part II: Tests for Weak Form Efficiency..................................................................................12
Step 2: Tests of Weak Form Efficiency...................................................................................13
Reference list............................................................................................................................16

2
Research Methods
Introduction
In the above diagram, the statistical analysis has been done taking the data on the
CEO and other variables in the form of 𝑅𝑂𝐴𝑖 is the return on assets % for firm i;
𝑆𝑖𝑧𝑒𝑖 is measured by the log of firm i’s total assets; 𝜎𝑖 is the volatility measured by the daily
return standard deviation (%), 𝑐𝑒𝑜𝑡𝑒𝑛𝑖 is the years as CEO with company I, 𝐹𝑒𝑚𝑎𝑙𝑒𝑖 is a
dummy variable, = 1 if CEO is female, = 0 otherwise. The study is aiming in developing the
regression among the independent and the dependent variable so that the correlation can be
determined.
Part I: Regression analysis
Regression analysis
SUMMAR
Y
OUTPUT
Regression
Statistics
Multiple R 0.690194931
R Square 0.476369043
Adjusted R
Square 0.422200324
Standard
Error 0.263262748
Observatio
ns 65
ANOVA
df SS MS F
Significance
F
Regression 6
3.65700059
9 0.6095
8.79
4172
8.06933E-
07

3
Research Methods
Residual 58 4.01982192
0.0693
07
Total 64
7.67682251
9
Coefficients
Standard
Error t Stat
P-
valu
e Lower 95%
Upper
95%
Lower
95.0%
Upper
95.0%
Intercept 3.118249454
0.30105732
9
10.357
66
8.3E
-15
2.51561773
5
3.7208
81173
2.515
61773
5
3.7208
81173
roa -0.00529486
0.00583477
7
-
0.9074
7
0.36
7916
-
0.01697443
5
0.0063
84714
-
0.016
97443
5
0.0063
84714
firmsize 0.095659872 0.02856035
3.3493
94
0.00
1428 0.03849012
0.1528
29624
0.038
49012
0.1528
29624
volatility -0.012699849
0.00295724
6
-
4.2944
9
6.75
E-05
-
0.01861941
9
-
0.0067
80279
-
0.018
61941
9
-
0.0067
80279
foreignceo 0.086665076
0.07547203
9
1.1483
07
0.25
5556
-
0.06440862
4
0.2377
38777
-
0.064
40862
4
0.2377
38777
femaleceo -0.362752099
0.13931475
1
-
2.6038
3
0.01
1688
-
0.64162087
1
-
0.0838
83327
-
0.641
62087
1
-
0.0838
83327
ceotenure 0.00207895
0.00665924
6
0.3121
9
0.75
6016
-
0.01125097
9
0.0154
08879
-
0.011
25097
9
0.0154
08879