Stock Valuations and Share Prices of Malaysian Palm Oil Companies

Table 6: Regression analysis of large cap sample before and during COVID-19

Dependent Variable: LNSPMethod: Panel EGLS (Two-way random effects)Date: 10/30/21Time: 02:39Sample: 2019Q1 2020Q1Periods included: 5Cross-sections included: 6Total panel (balanced) observations: 30Swamy and Arora estimator of component variances							Dependent Variable: LNSPMethod: Panel EGLS (Two-way random effects)Date: 10/30/21Time: 02:37Sample: 2020Q2 2021Q2Periods included: 5Cross-sections included: 6Total panel (balanced) observations: 30Swamy and Arora estimator of component variances
Variable	Coefficient		Std. Error	t-Statistic		Prob.	Variable	Coefficient		Std. Error		t-Statistic		Prob.
C	0.532503		0.505441	1.053541		0.3018	C	1.156486		0.537447		2.151817		0.0409
PE	4.23E-06		1.15E-05	0.366443		0.7170	PE	0.000785		0.000327		2.399700		0.0239
PB	0.520641		0.080484	6.468893		0.0000	PB	0.160630		0.030205		5.317912		0.0000
EV TO EBITDA	-0.001625		0.002875	-0.565321		0.5767	EV TOEBITDA	0.001701		0.006585		0.258317		0.7982
Effects Specification							Effects Specification
				S.D.		Rho						S.D.		Rho
Cross-section random				1.236687		0.9993	Cross-section random					1.380217		0.9972
Period random				0.008877		0.0001	Period random					0.052932		0.0015
Idiosyncratic random				0.030484		0.0006	Idiosyncratic random					0.049529		0.0013
Weighted Statistics							Weighted Statistics
R-squared	0.654236	Mean dependant var			0.016854		R-squared		0.651899		Mean dependant var		0.024441
Adjusted R-squared	0.614341	S.D. dependant var			0.045730		Adjusted R-squared		0.611733		S.D. dependant var		0.075001
S.E. of regression	0.028399	Sum squared resid			0.020969		S.E. of regression		0.046734		Sum squared resid		0.056785
F-statistic	16.39863	Durbin-Watson stat			1.557404		F-statistic		16.23031		Durbin-Watson stat		1.039483
Prob (F-statistic)	0.000003						Prob (F-statistic)		0.000004
Unweighted Statistics							Unweighted Statistics

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