Page 80 - Contributed Paper Session (CPS) - Volume 4

CPS2129 Matilde Bini et al.

Results show that the starting point of interest coverage is 16.136. The
initial decrease of this indicator (-0.853) is followed by an increase (0.300).
These growth parameters show a significant variability. Differences from
baseline level in growth curve parameters by Sector of Economic Activity can
be analyzed by sector economic activity:

EconomicActivity Intercept(ηα) Slope1 (ηβ1) Slope2 (ηβ2)
Food and Tobacco -1.035 1.048** 0.040
Textile and Leather -5.295 0.662 0.015
Wood, Publishing and Paper 2.950 -0.258 -0.030

Refinig 1.054 1.870 0.116
Chemistry and Rubber -2.256 0.782 0.127***
Metallurgy and Steel industry -1.371 0.876** 0.037
Electric machines and Mechanical 7.655** 0.944* 0.137***
Means of transport 2.741 -0.131 0.062
Other industries and maintenance (reference) 27.387 -1.149 0.319
p < 0.10 (*); p < 0.05 (**); p < 0.01 (***)

The effect of Leverage on Interest coverage during the period:
Year Estimate P-value
LEV_08 -2.508 0.000
LEV_09 -2.843 0.000
LEV_10 -2.160 0.000
LEV_11 -2.427 0.000
LEV_12 -3.077 0.000
LEV_13 -3.722 0.000
LEV_14 -4.170 0.000
LEV_15 -4.509 0.000
LEV_16 -5.125 0.000
LEV_17 -5.323 0.000

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