71
Growth - Beta
IO
σ>
°β
»
φ
to
E
«
ш
,D
φ
W
2.0
1.5
1.0 ■
0.5 ■
0.0 -
-0.5-C
-1.0 -
-1.5 ■
-2.0 ■
-2.5
-3.0
-3.5 ■
.6
-0.4
P=0.44
P=0.79 P=0.38 P=0.49 P=0.42
■ Upper Bound
Lower Bound
× Estimate
Tau
Figure 4.1: Parameter Estimates of Growth for Bankruptcies
Profit - Beta
IO
e>
°a
»
φ
я
E
«5
ш
■о
φ
M
о
1.5
1.0
0.5
0.0
-0.5-
-1.0
-1.5
-2.0
-2.5
-3.0
■ Upper Bound
Lower Bound
× Estimate
Tau
Figure 4.2: Parameter Estimates of Profitability for Bankruptcies