where i,t denotes the i-th sample c

where i,t denotes the i-th sample company in the period t; MV is the market value of the firm computed as the sum of the market value of equity and the book value of short-term and long-term debt divided by total assets; RD denotes R&D investments; Cash is cash plus short-term investments; TA is total assets; E is net income plus all non-cash charges or credits, extraordinary items, and interest; DY is the dividend yield; and NA is net assets computed as the book value of assets minus cash and marketable securities. The positive coefficients indicate that the variables make the market value of the firm higher.