65

LAMPIRAN

Lampiran 1: Data Perusahaan Sampel Penelitian

No. Kode Nama Perusahaan Sektor

1 AALI PT Astra Agro Lestari Tbk AGRICULTURE

2 BISI PT. Bisi Internasional Tbk AGRICULTURE

3 LSIP PT. Perusahaan Perkebunan

London Sumatra Indonesia Tbk AGRICULTURE

4 SGRO PT. Sampoerna Agro Tbk AGRICULTURE

5 SMAR PT. Sinar Mas Agro Resources

And Technology Tbk AGRICULTURE

6 TBLA PT. Tunas Baru Lampung Tbk AGRICULTURE

7 AKPI PT. Argha Karya Prima Industry

Tbk

BASIC INDUSTRY

AND CHEMICALS

8 ALMI PT. Alumindo Light Metal

Industry Tbk

BASIC INDUSTRY

AND CHEMICALS

9 AMFG PT. Asahimas Flat Glass Tbk BASIC INDUSTRY

AND CHEMICALS

10 APLI PT. Asiaplast Industries Tbk BASIC INDUSTRY

AND CHEMICALS

11 ARNA PT. Arwana Citramulia Tbk BASIC INDUSTRY

AND CHEMICALS

12 BTON PT. Betonjaya Manunggal Tbk BASIC INDUSTRY

AND CHEMICALS

13 CPIN PT. Charoen Pokphand Indonesia

Tbk

BASIC INDUSTRY

AND CHEMICALS

14 DPNS PT. Duta Pertiwi Nusantara Tbk BASIC INDUSTRY

AND CHEMICALS

15 EKAD PT. Ekadharma International Tbk BASIC INDUSTRY

AND CHEMICALS

16 FASW PT. Fajar Surya Wisesa Tbk BASIC INDUSTRY

AND CHEMICALS

17 IGAR PT. Champion Pacific Indonesia

Tbk

BASIC INDUSTRY

AND CHEMICALS

18 INCI PT. Intanwijaya Internasional Tbk BASIC INDUSTRY

AND CHEMICALS

19 INTP PT. Indocement Tunggal Perkasa

Tbk

BASIC INDUSTRY

AND CHEMICALS

20 JPFA PT. Japfa Comfeed Indonesia Tbk BASIC INDUSTRY

AND CHEMICALS

21 LION PT. Lion Metal Works Tbk BASIC INDUSTRY

AND CHEMICALS

66

22 LMSH PT. Lionmesh Prima Tbk BASIC INDUSTRY

AND CHEMICALS

23 MAIN PT. Malindo Feedmill Tbk BASIC INDUSTRY

AND CHEMICALS

24 SMCB PT. Holcim Indonesia Tbk BASIC INDUSTRY

AND CHEMICALS

25 SMGR PT. Semen Indonesia (Persero)

Tbk

BASIC INDUSTRY

AND CHEMICALS

26 SPMA PT.Suparma Tbk BASIC INDUSTRY

AND CHEMICALS

27 TOTO PT. Surya Toto Indonesia Tbk BASIC INDUSTRY

AND CHEMICALS

28 TRST PT. Trias Sentosa Tbk BASIC INDUSTRY

AND CHEMICALS

29 BRNA PT. Berlina Tbk BASIC INDUSTRY

AND CHEMICALS

30 JPRS PT. Jaya Pari Steel Tbk BASIC INDUSTRY

AND CHEMICALS

31 KDSI PT. Kedawung Setia Industrial

Tbk

BASIC INDUSTRY

AND CHEMICALS

32 PICO PT. Pelangi Indah Canindo Tbk BASIC INDUSTRY

AND CHEMICALS

33 TKIM PT. Pabrik Kertas Tjiwi Kimia Tbk BASIC INDUSTRY

AND CHEMICALS

34 CTBN PT. Citra Tubindo Tbk BASIC INDUSTRY

AND CHEMICALS

35 UNIC PT. Unggul Indah Cahaya Tbk BASIC INDUSTRY

AND CHEMICALS

36 BUDI PT. Budi Starch & Sweetener Tbk CONSUMER

GOODS INDUSTRY

37 CEKA PT. Wilmar Cahaya Indonesia Tbk CONSUMER

GOODS INDUSTRY

38 DLTA PT. Delta DJakarta Tbk CONSUMER

GOODS INDUSTRY

39 DVLA PT. Darya-Varia Laboratoria Tbk CONSUMER

GOODS INDUSTRY

40 GGRM PT. Gudang Garam Tbk CONSUMER

GOODS INDUSTRY

41 HMSP PT. Hanjaya Mandala Sampoerna

Tbk

CONSUMER

GOODS INDUSTRY

42 INDF PT. Indofood Sukses Makmur Tbk CONSUMER

GOODS INDUSTRY

43 KAEF PT. Kimia Farma Tbk CONSUMER

GOODS INDUSTRY

44 KLBF PT. Kalbe Farma Tbk CONSUMER

GOODS INDUSTRY

67

45 MERK PT. Merck Tbk CONSUMER

GOODS INDUSTRY

46 MLBI PT. Multi Bintang Indonesia Tbk CONSUMER

GOODS INDUSTRY

47 MRAT PT. Mustika Ratu Tbk CONSUMER

GOODS INDUSTRY

48 MYOR PT. Mayora Indah Tbk CONSUMER

GOODS INDUSTRY

49 TCID PT. Mandom Indonesia Tbk CONSUMER

GOODS INDUSTRY

50 TSPC PT. Tempo Scan Pacific Tbk CONSUMER

GOODS INDUSTRY

51 ULTJ PT. Ultra Jaya Milk Industry &

Trading Company Tbk

CONSUMER

GOODS INDUSTRY

52 UNVR PT. Unilever Indonesia Tbk CONSUMER

GOODS INDUSTRY

53 PYFA PT. Pyridam Farma Tbk CONSUMER

GOODS INDUSTRY

54 STTP PT. Siantar Top Tbk CONSUMER

GOODS INDUSTRY

55 EXCL PT. XL Axiata Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

56 ISAT PT. Indosat Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

57 JSMR PT. Jasa Marga (Persero) Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

58 TLKM PT. Telekomunikasi Indonesia

(Persero) Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

59 CMNP PT. Citra Marga Nusaphala

Persada Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

60 PGAS PT. Perusahaan Gas Negara

(Persero) Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

61 SMDR PT. Samudera Indonesia Tbk

INFRASTRUCTURE,

UTILITIES, AND

TRANSPORTATION

62 ANTM PT. Aneka Tambang Tbk MINING

63 ELSA PT. Elnusa MINING

64 PTBA PT. Bukit Asam Tbk MINING

65 TINS PT. Timah Tbk MINING

66 DSSA PT. Dian Swastatika Sentosa Tbk MINING

67 INCO PT. Vale Indonesia Tbk MINING

68

68 ITMG PT. Indo Tambangraya Megah Tbk MINING

69 KKGI PT. Resource Alam Indonesia Tbk MINING

70 PTRO PT. Petrosea Tbk MINING

71 RUIS PT. Radiant Utama Interinsco Tbk MINING

72 ADRO PT. Adaro Energy Tbk MINING

73 AUTO PT. Astra Otoparts Tbk MISCELLANEOUS

INDUSTRY

74 BATA PT. Sepatu Bata Tbk MISCELLANEOUS

INDUSTRY

75 GJTL PT. Gajah Tunggal Tbk MISCELLANEOUS

INDUSTRY

76 IMAS PT. Indomobil Sukses

Internasional Tbk

MISCELLANEOUS

INDUSTRY

77 JECC PT. Jembo Cable Company Tbk MISCELLANEOUS

INDUSTRY

78 KBLM PT. Kabelindo Murni Tbk MISCELLANEOUS

INDUSTRY

79 RICY PT. Ricky Putra Globalindo Tbk MISCELLANEOUS

INDUSTRY

80 SMSM PT. Selamat Sempurna Tbk MISCELLANEOUS

INDUSTRY

81 NIPS PT. Nipress Tbk MISCELLANEOUS

INDUSTRY

82 UNIT PT. Nusantara Inti Corpora Tbk MISCELLANEOUS

INDUSTRY

83 BRAM PT. Indo Kordsa Tbk MISCELLANEOUS

INDUSTRY

84 GDYR PT. Goodyear Indonesia Tbk MISCELLANEOUS

INDUSTRY

85 INDR PT. Indo-Rama Synthetics Tbk MISCELLANEOUS

INDUSTRY

86 MASA PT. Multistrada Arah Sarana Tbk MISCELLANEOUS

INDUSTRY

87 PBRX PT. Pan Brothers Tbk MISCELLANEOUS

INDUSTRY

88 ADHI PT. Adhi Karya (Persero) Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

89 ASRI PT. Alam Sutera Realty Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

90 CTRA PT. Ciputra Development Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

69

91 GPRA PT. Perdana Gapuraprima Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

92 JKON PT. Jaya Konstruksi Manggala

Pratama Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

93 JRPT PT. Jaya Real Property Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

94 KIJA PT. Kawasan Industri Jababeka

Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

95 LPKR PT. Lippo Karawaci Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

96 MKPI PT. Metropolitan Kentjana Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

97 MTSM PT. Metro Realty Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

98 PLIN PT. Plaza Indonesia Realty Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

99 PWON PT. Pakuwon Jati Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

100 RDTX PT. Roda Vivatex Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

101 SMRA PT. Summarecon Agung Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

102 TOTL PT. Total Bangun Persada Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

70

103 WIKA PT. Wijaya Karya (Persero) Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

104 BCIP PT. Bumi Citra Permai Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

105 DUTI PT. Duta Pertiwi Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

106 BAPA PT. Bekasi Asri Pemula Tbk

PROPERTY, REAL

ESTATE, AND

BULDING

CONSTRUCTION

107 ACES PT. Ace Hardware Indonesia Tbk TRADE SERVICE

AND INVESTMENT

108 AKRA PT. AKR Corporindo Tbk TRADE SERVICE

AND INVESTMENT

109 AMRT PT. Sumber Alfaria Trijaya Tbk TRADE SERVICE

AND INVESTMENT

110 ASGR PT. Astra Graphia Tbk TRADE SERVICE

AND INVESTMENT

111 BMTR PT. Global Mediacom Tbk TRADE SERVICE

AND INVESTMENT

112 CSAP PT. Catur Sentosa Adiprana Tbk TRADE SERVICE

AND INVESTMENT

113 EPMT PT. Enseval Putera Megatrading

Tbk

TRADE SERVICE

AND INVESTMENT

114 FAST PT. Fast Food Indonesia Tbk TRADE SERVICE

AND INVESTMENT

115 GEMA PT. Gema Grahasarana Tbk TRADE SERVICE

AND INVESTMENT

116 JTPE PT. Jasuindo Tiga Perkasa Tbk TRADE SERVICE

AND INVESTMENT

117 LTLS PT. Lautan Luas Tbk TRADE SERVICE

AND INVESTMENT

118 MAPI PT. Mitra Adiperkasa Tbk TRADE SERVICE

AND INVESTMENT

119 MICE PT. Multi Indocitra Tbk TRADE SERVICE

AND INVESTMENT

120 MLPL PT. Multipolar Tbk TRADE SERVICE

AND INVESTMENT

121 MNCN PT. Media Nusantara Citra Tbk TRADE SERVICE

AND INVESTMENT

71

122 MPPA PT. Matahari Putra Prima Tbk TRADE SERVICE

AND INVESTMENT

123 MTDL PT. Metrodata Electronics Tbk TRADE SERVICE

AND INVESTMENT

124 PANR PT. Panorama Sentrawisata Tbk TRADE SERVICE

AND INVESTMENT

125 PJAA PT. Pembangunan Jaya Ancol Tbk TRADE SERVICE

AND INVESTMENT

126 PUDP PT. Pudjiadi Prestige Tbk TRADE SERVICE

AND INVESTMENT

127 RALS PT. Ramayana Lestari Sentosa Tbk TRADE SERVICE

AND INVESTMENT

128 SCMA PT. Surya Citra Media Tbk TRADE SERVICE

AND INVESTMENT

129 SDPC PT. Millenium Pharmacon

International Tbk

TRADE SERVICE

AND INVESTMENT

130 SONA PT. Sona Topas Tourism Industry

Tbk

TRADE SERVICE

AND INVESTMENT

131 TGKA PT. Tigaraksa Satria Tbk TRADE SERVICE

AND INVESTMENT

132 TURI PT. Tunas Ridean Tbk TRADE SERVICE

AND INVESTMENT

133 UNTR PT. United Tractors Tbk TRADE SERVICE

AND INVESTMENT

134 CLPI PT. Colorpak Indonesia Tbk TRADE SERVICE

AND INVESTMENT

135 FISH PT. FKS Multi Agro Tbk TRADE SERVICE

AND INVESTMENT

136 FORU PT. Fortune Indonesia Tbk TRADE SERVICE

AND INVESTMENT

137 HERO PT. Hero Supermarket Tbk TRADE SERVICE

AND INVESTMENT

138 PDES PT. Destinasi Tirta Nusantara Tbk TRADE SERVICE

AND INVESTMENT

139 PLAS PT. Polaris Investama Tbk TRADE SERVICE

AND INVESTMENT

72

Lampiran 2: Data Fenomena

Rata-rata Capital

Expenditure

Rata-rata External

Financing

Rata-rata Cash

Flow

2010 451,517,824,252 96,358,233,013 1,161,077,208,344

2011 563,325,537,168 149,959,796,371 1,213,001,355,888

2012 637,261,822,787 213,362,198,432 1,322,347,139,381

2013 759,847,653,282 186,911,952,538 1,340,225,930,196

2014 789,917,139,785 359,463,040,739 1,447,809,614,000

2015 759,194,304,899 432,692,307,390 1,304,714,060,003

2016 677,151,957,663 73,518,605,183 1,572,471,300,058

2017 783,166,470,022 174,067,499,764 1,643,668,619,276

73

Lampiran 3: Data Fenomena Suku Bunga Dasar Kredit

Tahun Suku Bunga Dasar Kredit

Investasi Bank Umum

2010 12.28%

2011 12.04%

2012 11.27%

2013 11.82%

2014 12.36%

2015 12.12%

2016 11.21%

2017 10.92%

Sumber: BPS

74

Lampiran 4: Data Variabel Penelitian

KODE TAHUN CAPEX CF EXTFIN SPREAD FIN

CONST

AALI 2010 0.0906 0.3224 0.0000 0.0940 -0.9938

AALI 2011 0.1236 0.3271 0.0000 0.4640 -1.0646

AALI 2012 0.1740 0.2979 -0.0486 0.2537 -1.0739

AALI 2013 0.1748 0.2015 0.1036 0.2998 -0.8734

AALI 2014 0.1542 0.2268 0.1040 0.0520 -1.0544

AALI 2015 0.0869 0.0872 0.1412 0.0794 -0.3099

AALI 2016 0.0713 0.1480 0.0242 0.1488 -0.8306

AALI 2017 0.0429 0.1363 -0.0064 0.0950 -0.7723

ACES 2010 0.2059 0.2653 0.0000 2.6087 0.1364

ACES 2011 0.1554 0.2761 0.0000 3.5294 -0.0802

ACES 2012 0.0950 0.3411 0.0244 0.6061 -0.3270

ACES 2013 0.0437 0.3041 -0.0150 0.8403 -0.3719

ACES 2014 0.0390 0.2586 -0.0035 0.6410 -0.3909

ACES 2015 0.0440 0.2281 -0.0088 0.9174 -0.3831

ACES 2016 0.0848 0.2380 0.0000 0.9063 -0.4839

ACES 2017 0.0509 0.2294 0.0000 0.2160 -0.5162

ADHI 2010 0.0011 0.0361 0.0107 0.5208 -1.2142

ADHI 2011 0.0023 0.0383 -0.0308 0.8197 -1.3804

ADHI 2012 0.0178 0.0360 0.0487 0.2686 -1.4723

ADHI 2013 0.0128 0.0538 0.0966 0.3132 -1.7095

ADHI 2014 0.0252 0.0367 0.0576 0.0847 -1.5945

ADHI 2015 0.0192 0.0475 0.0812 0.1170 -1.9255

ADHI 2016 0.0220 0.0222 0.0744 0.2410 -1.7084

ADHI 2017 0.0083 0.0317 0.2086 0.1328 -2.0743

AKPI 2010 0.1832 0.0639 0.0764 2.0408 1.1123

AKPI 2011 0.0632 0.0781 -0.0357 0.9709 0.8152

AKPI 2012 0.0150 0.0513 -0.0433 1.8405 0.9071

75

AKPI 2013 0.0244 0.0519 -0.0242 6.6667 0.7428

AKPI 2014 0.0569 0.0462 0.0101 4.4586 0.8754

AKPI 2015 0.2158 0.0439 0.1748 2.4096 0.7152

AKPI 2016 0.0175 0.0480 -0.0182 5.9880 0.8941

AKPI 2017 0.0170 0.0413 -0.0368 9.0226 0.8681

AKRA 2010 0.0815 0.0668 0.0874 0.2899 0.1848

AKRA 2011 0.0502 0.1064 -0.0158 0.4149 -0.0957

AKRA 2012 0.0743 0.1006 0.2011 0.5988 -0.2919

AKRA 2013 0.0656 0.0736 0.0161 0.2849 -1.7986

AKRA 2014 0.0395 0.0752 -0.0084 0.3654 -1.7859

AKRA 2015 0.0184 0.0955 0.0181 0.8787 -1.9069

AKRA 2016 0.0379 0.0916 0.0005 0.4184 -1.8420

AKRA 2017 0.0400 0.0850 -0.0133 0.1972 -1.8498

ALMI 2010 0.0417 0.0571 -0.0133 3.7037 0.7241

ALMI 2011 0.0450 0.0629 0.1711 1.0870 0.6957

ALMI 2012 0.0321 0.0329 0.0888 3.1746 1.1117

ALMI 2013 0.0095 0.0399 -0.0364 9.0909 0.6503

ALMI 2014 0.0048 0.0196 -0.0100 2.2901 0.7250

ALMI 2015 0.0001 -0.0009 -0.0475 1.2853 1.3699

ALMI 2016 0.0012 -0.0229 -0.0684 1.6667 1.3799

ALMI 2017 0.0045 0.0269 0.0784 3.2864 0.9548

AMFG 2010 0.0441 0.2598 0.0000 0.4292 -0.0542

AMFG 2011 0.1167 0.2074 0.0000 0.7692 0.0003

AMFG 2012 0.1208 0.1894 0.0000 0.3021 0.0060

AMFG 2013 0.1082 0.1665 0.0000 4.4776 0.0920

AMFG 2014 0.0877 0.1868 0.0000 0.6289 -0.1192

AMFG 2015 0.1346 0.1402 0.0000 1.8727 0.1016

AMFG 2016 0.3754 0.1152 0.1636 0.7519 0.1588

AMFG 2017 0.1849 0.0728 0.1413 0.2079 0.4780

AMRT 2010 0.2620 0.2109 0.1156 0.8696 0.0183

AMRT 2011 0.1238 0.2068 0.0070 1.2346 -0.2040

76

AMRT 2012 0.2328 0.2541 0.2196 2.4390 -0.3638

AMRT 2013 0.1394 0.1877 0.0816 0.5525 -0.3120

AMRT 2014 0.1323 0.1767 0.1524 0.1001 -2.0112

AMRT 2015 0.1143 0.1541 0.1378 0.4329 -1.8235

AMRT 2016 0.1447 0.1755 0.0236 4.6025 -1.9906

AMRT 2017 0.0808 0.1425 0.0108 0.8264 -1.8491

ANTM 2010 0.0472 0.2346 0.0322 0.5128 -0.8032

ANTM 2011 0.0553 0.2055 0.1863 0.2930 -2.4518

ANTM 2012 0.1480 0.2392 0.1078 0.4169 -2.8347

ANTM 2013 0.1240 0.0611 0.0678 0.4348 -1.5013

ANTM 2014 0.0921 0.0057 0.0476 0.2801 -1.2874

ANTM 2015 0.0790 -0.0279 0.3226 0.1595 -1.5062

ANTM 2016 0.0388 0.0262 -0.0009 0.2786 -1.8015

ANTM 2017 0.0774 0.0343 -0.0190 0.4016 -1.8890

APLI 2010 0.0073 0.1250 0.0650 0.5525 1.3671

APLI 2011 0.0326 0.0875 -0.0005 0.6623 1.7029

APLI 2012 0.0615 0.0570 -0.0047 1.7143 1.9745

APLI 2013 0.0267 0.0515 -0.0092 1.5873 2.0916

APLI 2014 0.0689 0.0819 -0.0089 0.6211 1.9359

APLI 2015 0.2123 0.0647 -0.0154 2.9851 1.7230

APLI 2016 0.0769 0.0155 -0.0002 0.4484 2.1521

APLI 2017 0.0169 0.0465 -0.0001 0.6897 1.9304

ARNA 2010 0.0231 0.1583 -0.0940 2.0979 0.4534

ARNA 2011 0.0243 0.1684 -0.0702 0.5525 0.4734

ARNA 2012 0.0645 0.2549 -0.1138 0.6135 0.0939

ARNA 2013 0.1532 0.3166 -0.0690 1.7964 -0.0917

ARNA 2014 0.0764 0.2938 -0.0226 1.1628 -0.1036

ARNA 2015 0.0651 0.1166 -0.0199 0.5025 0.7569

ARNA 2016 0.0515 0.1326 -0.0229 0.9615 0.6953

ARNA 2017 0.0458 0.1479 -0.0182 0.2915 0.5672

ASGR 2010 0.0236 0.1528 -0.0180 0.7299 0.3738

77

ASGR 2011 0.0174 0.1413 0.0000 1.3333 0.3807

ASGR 2012 0.0285 0.1520 0.0460 0.3690 0.2347

ASGR 2013 0.0129 0.1686 -0.0167 0.2985 0.1048

ASGR 2014 0.0080 0.1794 -0.0201 0.1318 -0.0377

ASGR 2015 0.0157 0.1623 -0.0091 2.8571 -0.0153

ASGR 2016 0.0223 0.1409 -0.0059 0.8000 0.0826

ASGR 2017 0.0078 0.1492 -0.0022 0.5758 -0.0084

ASRI 2010 0.0280 0.0817 -0.0379 0.8547 0.2003

ASRI 2011 0.0434 0.1314 -0.0251 0.5405 -0.2741

ASRI 2012 0.0288 0.2024 0.2576 0.8264 -0.7936

ASRI 2013 0.0114 0.0813 0.1309 0.5780 -0.3310

ASRI 2014 0.0124 0.0816 0.1198 0.4444 -0.5138

ASRI 2015 0.0087 0.0404 0.0003 0.1456 -0.2210

ASRI 2016 0.0043 0.0273 0.0130 0.2849 -0.1821

ASRI 2017 0.0045 0.0686 -0.0143 0.2801 -0.5619

AUTO 2010 0.0912 1.3467 -0.0127 0.5409 -0.9371

AUTO 2011 0.1385 0.1972 0.0244 0.3693 -0.6661

AUTO 2012 0.1057 0.1631 0.0395 3.1395 -0.6457

AUTO 2013 0.0735 0.1135 -0.0330 0.3436 -0.5034

AUTO 2014 0.0776 0.0764 -0.0127 3.4483 -0.3192

AUTO 2015 0.0513 0.0224 0.0060 0.3135 0.0857

AUTO 2016 0.0310 0.0337 0.0163 1.2048 0.0203

AUTO 2017 0.0269 0.0375 -0.0055 0.7335 -0.0042

BAPA 2010 0.0001 0.0969 -0.0767 9.0909 1.1665

BAPA 2011 0.0199 0.1735 0.0354 3.8961 0.6982

BAPA 2012 0.0019 0.0322 -0.0350 0.3584 1.9564

BAPA 2013 0.0049 0.0343 0.0566 2.8571 1.7820

BAPA 2014 0.0002 0.0427 0.0369 0.0000 1.7817

BAPA 2015 0.0002 0.0089 0.0074 0.0000 1.9841

BAPA 2016 0.0002 0.0117 -0.0218 0.0000 1.8060

BAPA 2017 0.0000 0.0741 -0.0761 0.5714 1.4167

BCIP 2010 0.0221 0.1210 0.0129 1.0101 1.2571

BCIP 2011 0.0176 0.0227 0.2045 1.6393 1.8396

BCIP 2012 0.0351 0.0488 -0.0549 4.7619 1.4739

BCIP 2013 0.0182 0.0799 -0.0121 0.5464 1.2248

BCIP 2014 0.0230 0.0769 0.2466 0.9836 0.9640

BCIP 2015 0.0042 0.0200 -0.0164 0.5917 1.3219

78

BCIP 2016 0.0047 0.0783 -0.0308 -4.9327 0.8090

BCIP 2017 0.0020 0.0727 -0.0020 0.3984 0.9023

BISI 2010 0.0122 0.1214 -0.0016 0.2667 0.5759

BISI 2011 0.0129 0.1237 -0.0016 0.5525 0.4417

BISI 2012 0.0111 0.0985 -0.0003 0.6289 0.6017

BISI 2013 0.0102 0.0926 0.0000 0.8850 0.6491

BISI 2014 0.0281 0.1079 0.0000 0.3175 0.4252

BISI 2015 0.0212 0.1529 0.0000 0.7463 0.0956

BISI 2016 0.0193 0.1688 0.0000 0.5291 -0.0519

BISI 2017 0.0913 0.1772 0.0000 1.1268 -0.1798

BRNA 2010 0.0791 0.1434 -0.0074 0.3145 0.8436

BRNA 2011 0.1164 0.1528 -0.0193 0.8596 0.7319

BRNA 2012 0.1297 0.1588 -0.0363 0.7225 0.6019

BRNA 2013 0.0749 0.0508 -0.0088 0.5549 1.0287

BRNA 2014 0.0361 0.1172 0.0136 0.3574 0.5110

BRNA 2015 0.0412 0.0619 -0.0720 0.6878 0.8546

BRNA 2016 0.0780 0.0850 0.0819 0.4566 0.8225

BRNA 2017 0.0236 -0.0162 -0.0683 2.0576 1.6910

BTON 2010 0.0223 0.1426 0.0000 0.5917 1.5573

BTON 2011 0.0408 0.2241 0.0000 1.1765 1.0182

BTON 2012 0.0480 0.2155 0.0000 0.5747 0.9182

BTON 2013 0.0070 0.1842 0.0000 0.7194 0.9482

BTON 2014 0.0031 0.0492 0.0000 3.8462 1.8328

BTON 2015 0.0018 0.0443 0.0000 0.4608 1.8496

BTON 2016 0.0001 -0.0256 0.0000 2.4390 2.4037

BTON 2017 0.0010 0.0701 0.0000 0.4444 1.6241

BUDI 2010 0.0918 0.0815 0.0083 1.1236 0.6418

BUDI 2011 0.0832 0.0825 0.0717 1.0526 0.6875

BUDI 2012 0.0673 0.0503 -0.0035 0.8850 0.9101

BUDI 2013 0.0841 0.0731 -0.0356 0.4608 0.7186

BUDI 2014 0.1219 0.0629 0.0597 0.9259 0.6774

BUDI 2015 0.0549 0.0511 0.0277 1.5625 0.5095

BUDI 2016 0.0338 0.0469 -0.0218 0.5780 0.7203

BUDI 2017 0.0406 0.0646 0.0079 0.5291 0.6449

CEKA 2010 0.0438 0.0778 -0.0738 7.3171 0.9359

CEKA 2011 0.0166 0.1325 -0.1271 15.7895 0.5138

CEKA 2012 0.0027 0.0934 -0.0441 3.1496 0.8222

CEKA 2013 0.0020 0.0811 0.0000 3.0837 0.8733

CEKA 2014 0.0129 0.0563 0.0000 3.4483 0.7766

CEKA 2015 0.0035 0.0988 0.0000 5.0980 0.4743

CEKA 2016 0.0006 0.1826 0.0000 0.5587 0.0424

CEKA 2017 0.0057 0.0923 0.0000 0.3861 0.5977

CLPI 2010 0.0245 0.1504 0.0456 1.4493 0.9760

79

CLPI 2011 0.0840 0.1217 0.0442 0.3745 0.9336

CLPI 2012 0.0148 0.1155 -0.0197 0.3413 1.0437

CLPI 2013 0.0303 0.0606 -0.0189 0.8696 0.9057

CLPI 2014 0.0506 0.1236 -0.0071 0.3155 0.8762

CLPI 2015 0.0232 0.1059 0.0045 0.7813 1.0515

CLPI 2016 0.0514 0.1450 -0.0050 1.0417 0.6928

CLPI 2017 0.0103 0.0981 -0.0073 0.8696 1.0766

CMNP 2010 0.0078 0.1463 -0.0592 0.3382 0.0346

CMNP 2011 0.0068 0.1637 -0.0092 0.3192 -0.0599

CMNP 2012 0.0177 0.1588 -0.0127 0.2720 -0.1002

CMNP 2013 0.0196 0.1272 0.0613 0.3635 0.0180

CMNP 2014 0.0075 0.1085 -0.0096 0.6921 0.0090

CMNP 2015 0.0030 0.1099 -0.0063 0.7078 0.0183

CMNP 2016 0.0028 0.1048 0.1547 0.2723 -0.0785

CMNP 2017 0.0059 0.1053 0.1905 0.3257 -0.2209

CPIN 2010 0.0730 0.4418 -0.0672 0.2725 -0.9686

CPIN 2011 0.2197 0.3888 0.0524 0.5848 -1.0542

CPIN 2012 0.1935 0.3316 0.0688 1.0381 -1.1376

CPIN 2013 0.1765 0.2316 0.0851 0.3690 -1.0851

CPIN 2014 0.2002 0.1405 0.1531 0.1325 -0.7775

CPIN 2015 0.0945 0.1156 0.0505 0.9524 -0.8392

CPIN 2016 0.0252 0.1219 -0.0545 0.1616 -1.0393

CPIN 2017 0.0249 0.1371 -0.0400 3.0695 -0.9958

CSAP 2010 0.0719 0.0536 -0.0057 1.4354 0.8908

CSAP 2011 0.0605 0.0676 0.0131 1.1086 0.6810

CSAP 2012 0.1415 0.0528 0.0693 1.1086 0.6202

CSAP 2013 0.0443 0.0491 -0.0103 0.2801 0.5588

CSAP 2014 0.0365 0.0560 -0.0278 0.4359 0.4472

CSAP 2015 0.0581 0.0298 0.0273 0.6369 0.6505

CSAP 2016 0.0366 0.0381 0.1359 0.4785 0.5137

CSAP 2017 0.0901 0.0385 0.0248 0.4425 0.4410

CTRA 2010 0.0724 0.0524 0.0184 0.7321 0.2711

CTRA 2011 0.1470 0.0609 0.0554 0.9506 0.0678

CTRA 2012 0.1396 0.0835 0.0545 0.6394 -0.2418

CTRA 2013 0.0413 0.1046 0.0789 1.3058 -0.5587

CTRA 2014 0.0314 0.0986 0.0626 0.2030 -0.6731

CTRA 2015 0.0354 0.0841 0.0535 0.1720 -0.6775

CTRA 2016 0.0080 0.0540 0.0527 0.1869 -0.5231

CTRA 2017 0.0097 0.0442 0.0350 0.4237 -0.4851

DLTA 2010 0.0228 0.2219 0.0000 6.3830 0.2013

DLTA 2011 0.0106 0.2470 0.0000 0.8782 0.1572

DLTA 2012 0.0223 0.3330 0.0000 3.8076 -0.0142

DLTA 2013 0.0202 0.3859 0.0000 11.7647 -0.1127

80

DLTA 2014 0.0436 0.3506 0.0000 5.4054 -0.1506

DLTA 2015 0.0107 0.2116 0.0000 0.9901 0.0900

DLTA 2016 0.0096 0.2635 0.0000 3.8422 -0.0679

DLTA 2017 0.0099 0.2488 0.0000 0.9901 -0.1378

DPNS 2010 0.0107 0.1103 0.0000 4.2424 1.5314

DPNS 2011 0.0114 -0.0288 0.0000 2.8571 2.6711

DPNS 2012 0.0101 0.1312 0.0000 2.5974 1.3489

DPNS 2013 0.0193 0.3735 0.0000 5.2632 0.3879

DPNS 2014 0.0127 0.0650 0.0000 4.8518 1.6481

DPNS 2015 0.0064 0.0445 0.0000 5.1630 1.7785

DPNS 2016 0.0064 0.0436 0.0000 6.9767 1.7412

DPNS 2017 0.0036 0.0267 0.0000 1.4085 1.8490

DSSA 2010 0.0210 0.0695 -0.0769 4.0000 0.0812

DSSA 2011 0.0620 0.0901 -0.0594 6.1947 -0.4229

DSSA 2012 0.0410 0.0595 -0.0580 3.2028 0.0180

DSSA 2013 0.0733 0.0252 0.0074 12.9032 0.3240

DSSA 2014 0.1075 0.0429 0.0852 3.7313 0.1041

DSSA 2015 0.0262 0.1409 0.0014 -4.0323 -0.9249

DSSA 2016 0.0311 0.0576 0.0266 13.7931 -0.5470

DSSA 2017 0.0267 0.0835 0.0930 0.3584 -0.9579

DUTI 2010 0.0031 0.0858 0.0000 0.5917 -1.4488

DUTI 2011 0.0008 0.0993 -0.0067 9.6045 -1.5963

DUTI 2012 0.0006 0.1278 0.0000 1.6393 -1.8042

DUTI 2013 0.0081 0.1227 0.0050 0.2801 -0.2419

DUTI 2014 0.0162 0.1017 0.0094 0.2045 -0.1624

DUTI 2015 0.0083 0.0925 -0.0003 4.0000 -0.1545

DUTI 2016 0.0071 0.1023 0.0244 0.7937 -0.2632

DUTI 2017 0.0043 0.0755 0.0208 6.1947 -0.0927

DVLA 2010 0.0620 0.1565 0.0000 1.7094 0.5638

DVLA 2011 0.0785 0.1723 0.0000 10.7143 0.4886

DVLA 2012 0.0595 0.1929 0.0000 2.4242 0.2959

DVLA 2013 0.0511 0.1472 0.0000 3.5294 0.5168

DVLA 2014 0.0507 0.0982 -0.0072 4.3210 0.9031

DVLA 2015 0.0259 0.1181 0.0000 0.5803 0.6561

DVLA 2016 0.1424 0.1398 0.0000 1.8868 0.3700

DVLA 2017 0.0251 0.1365 0.0000 0.7712 0.4057

EKAD 2010 0.0293 0.1910 0.0041 2.0000 0.8888

EKAD 2011 0.0212 0.1551 -0.0029 0.9009 0.9711

EKAD 2012 0.0716 0.1842 -0.0224 0.7194 0.8266

EKAD 2013 0.0701 0.1768 0.0556 1.2821 0.8196

EKAD 2014 0.0225 0.1504 0.0491 0.9804 0.8012

EKAD 2015 0.0149 0.1377 -0.1183 0.2506 0.8030

EKAD 2016 0.0927 0.2703 0.0244 0.4255 0.3003

81

EKAD 2017 0.0364 0.1369 0.0068 0.3610 0.7405

ELSA 2010 0.0426 0.0810 -0.0374 0.7634 0.7892

ELSA 2011 0.1322 0.0806 0.0521 1.0753 0.6568

ELSA 2012 0.0236 0.1113 -0.0396 0.2882 0.5303

ELSA 2013 0.0257 0.1257 -0.0915 0.7634 0.3165

ELSA 2014 0.0837 0.1508 -0.0732 0.3636 0.0197

ELSA 2015 0.1154 0.1508 0.0461 0.2020 0.1902

ELSA 2016 0.0593 0.1404 -0.0590 0.2375 0.2954

ELSA 2017 0.0667 0.1472 0.0338 0.2695 0.2697

EPMT 2010 0.0497 0.1071 0.0000 6.6607 0.1998

EPMT 2011 0.0480 0.1290 0.0922 2.6316 -0.0277

EPMT 2012 0.0373 0.1106 0.0000 1.4493 0.0146

EPMT 2013 0.0535 0.1132 0.0000 5.2632 -0.0582

EPMT 2014 0.0388 0.1133 0.0000 4.0763 -0.1007

EPMT 2015 0.0247 0.0782 0.0000 18.5332 0.0905

EPMT 2016 0.0143 0.1012 0.0000 8.4746 -0.0895

EPMT 2017 0.0277 0.0901 0.0000 14.1221 -0.0406

EXCL 2010 0.1771 0.2562 -0.1179 0.4708 -2.6186

EXCL 2011 0.2393 0.2757 0.0155 0.2696 -2.6038

EXCL 2012 0.3265 0.2512 0.0835 0.8792 -2.5861

EXCL 2013 0.2085 0.1915 0.0941 0.9646 -0.7071

EXCL 2014 0.1761 0.1499 0.2582 0.1565 -0.9215

EXCL 2015 0.0652 0.1117 -0.0831 0.0695 -0.5491

EXCL 2016 0.0949 0.1431 -0.1063 0.4310 -0.6147

EXCL 2017 0.1220 0.1335 -0.0160 0.1692 -0.6506

FAST 2010 0.0590 0.3170 -0.0019 17.8347 0.0378

FAST 2011 0.0479 0.2634 0.1593 0.7564 -1.6138

FAST 2012 0.0761 0.2083 -0.0023 7.3448 -1.4717

FAST 2013 0.0460 0.1098 -0.0026 2.3136 -0.8302

FAST 2014 0.0378 0.1545 -0.0034 1.2048 -1.2431

FAST 2015 0.0348 0.1309 -0.0051 1.5453 -0.9461

FAST 2016 0.0431 0.1587 -0.0054 1.6393 -1.1714

FAST 2017 0.0396 0.1469 -0.0054 1.0453 -0.9739

FASW 2010 0.1698 0.0771 0.1606 0.4367 0.0261

FASW 2011 0.1431 0.0693 0.2495 5.6962 0.3212

FASW 2012 0.0567 0.0440 -0.0045 2.0000 0.5731

FASW 2013 0.0289 -0.0030 0.0341 0.6211 1.0287

FASW 2014 0.0314 0.0595 -0.1331 0.1513 0.4762

FASW 2015 0.0426 -0.0094 0.1372 6.5760 0.8967

FASW 2016 0.1789 0.1430 0.0771 0.2433 -0.3757

FASW 2017 0.0382 0.0941 -0.0310 0.4630 -0.2919

FISH 2010 0.0019 0.1097 0.0000 2.2472 0.5008

FISH 2011 0.0081 0.0443 0.0000 1.2346 0.4610

82

FISH 2012 0.0023 0.0564 0.0000 6.3830 0.5221

FISH 2013 0.0052 0.0631 0.0405 9.5238 0.2759

FISH 2014 0.0261 0.0301 -0.0319 0.2747 0.8246

FISH 2015 0.0526 0.0615 0.1280 3.2258 0.1149

FISH 2016 0.0734 0.0745 0.0561 8.3333 0.3110

FISH 2017 0.0388 0.0759 -0.0299 0.8403 0.2047

FORU 2010 0.0066 0.0501 0.0015 0.4444 1.7029

FORU 2011 0.0087 0.0533 0.0196 2.8369 1.6604

FORU 2012 0.0084 0.0545 0.1283 2.6820 1.6980

FORU 2013 0.0030 0.0482 -0.0455 0.8902 1.6575

FORU 2014 0.0035 0.0217 -0.0011 1.7544 1.8563

FORU 2015 0.0021 0.0144 -0.0011 2.9412 1.7972

FORU 2016 0.0007 -0.0157 -0.0006 3.6789 2.1086

FORU 2017 0.0008 -0.2161 -0.0008 1.5748 2.9195

GEMA 2010 0.0119 0.1104 -0.0892 2.7523 0.9749

GEMA 2011 0.0209 0.1059 -0.0512 1.6393 1.0287

GEMA 2012 0.0171 0.1035 0.0129 0.6289 1.0204

GEMA 2013 0.0272 0.0655 -0.0248 3.2967 1.3389

GEMA 2014 0.0200 0.0728 -0.0506 1.2821 1.2347

GEMA 2015 0.0252 0.0842 -0.0162 2.2222 1.0978

GEMA 2016 0.0222 0.0932 -0.0655 1.8405 0.9077

GEMA 2017 0.0509 0.0527 0.0189 12.7907 1.0956

GGRM 2010 0.0403 0.1842 0.0000 0.2494 -1.2574

GGRM 2011 0.0595 0.1898 0.0000 0.5988 -1.3690

GGRM 2012 0.0996 0.1303 0.0000 0.0889 -1.2143

GGRM 2013 0.1368 0.1323 0.0000 0.4184 -1.3448

GGRM 2014 0.1008 0.1364 0.0000 0.4136 -1.4918

GGRM 2015 0.0502 0.1408 0.0000 0.3879 -1.5539

GGRM 2016 0.0368 0.1379 0.0000 0.0587 -1.5223

GGRM 2017 0.0539 0.1588 0.0000 0.0149 -1.5970

GJTL 2010 0.0426 0.1356 0.0000 0.5464 -0.5395

GJTL 2011 0.0550 0.1036 0.0000 0.4184 -0.3353

GJTL 2012 0.1492 0.1354 0.0000 1.1364 -0.6226

GJTL 2013 0.0353 0.0486 0.0595 0.2985 -0.1832

GJTL 2014 0.0709 0.0556 0.0000 0.3521 -0.2184

GJTL 2015 0.0636 0.0204 0.0178 0.4739 0.0043

GJTL 2016 0.0542 0.0765 -0.0026 1.1820 -0.4286

GJTL 2017 0.0213 0.0386 -0.0027 0.3663 -0.1556

GPRA 2010 0.0027 0.0321 -0.0496 1.5075 1.2125

GPRA 2011 0.0032 0.0497 0.0315 1.2987 1.0881

GPRA 2012 0.0030 0.0539 0.0502 0.4975 0.9964

GPRA 2013 0.0047 0.0902 0.0621 0.3322 0.6053

GPRA 2014 0.0038 0.0788 -0.0077 0.3367 0.6217

83

GPRA 2015 0.0230 0.0572 0.0092 3.9164 0.7823

GPRA 2016 0.0012 0.0395 0.0237 0.2740 0.9191

GPRA 2017 0.0016 0.0330 -0.1107 0.9804 1.0105

HERO 2010 0.1336 0.1503 0.0000 10.4639 0.1838

HERO 2011 0.1441 0.1593 0.0000 7.4486 0.1098

HERO 2012 0.3021 0.1524 0.0000 0.3002 -0.0389

HERO 2013 0.2496 0.1848 0.5647 0.5128 -0.3684

HERO 2014 0.1763 0.0542 0.0000 0.7284 0.5804

HERO 2015 0.0527 0.0353 0.0000 1.8519 0.8060

HERO 2016 0.0504 0.0691 0.0000 0.7874 0.5360

HERO 2017 0.0662 0.0305 0.0000 0.5435 0.9087

HMSP 2010 0.0224 0.3914 -0.0035 0.4492 -1.4325

HMSP 2011 0.0216 0.4194 -0.0019 0.1293 -1.4376

HMSP 2012 0.0355 0.5384 -0.0014 0.6340 -1.5637

HMSP 2013 0.0483 0.4310 -0.0009 0.9369 -1.5810

HMSP 2014 0.0545 0.3926 -0.0007 0.2759 -1.5861

HMSP 2015 0.0294 0.3890 0.7311 0.2399 -1.6674

HMSP 2016 0.0276 0.3554 -0.0006 0.2604 -1.7253

HMSP 2017 0.0269 0.3189 -0.0005 0.2119 -1.7219

INDF 2010 0.0636 0.1233 -0.0383 0.2558 -2.7293

INDF 2011 0.0615 0.1269 -0.0321 0.8086 -2.7950

INDF 2012 0.0828 0.1126 0.0119 0.4255 -2.8004

INDF 2013 0.0902 0.0858 0.1400 0.3802 -2.8143

INDF 2014 0.0611 0.0943 -0.0175 0.1855 -2.9658

INDF 2015 0.0411 0.0663 -0.0011 0.2421 -2.8505

INDF 2016 0.0302 0.0772 -0.0436 0.1580 -2.8701

INDF 2017 0.0774 0.0902 -0.0237 0.1642 -2.9793

IGAR 2010 0.0206 0.2073 0.0000 1.2048 0.7408

IGAR 2011 0.0110 0.1867 0.0000 0.5236 0.7135

IGAR 2012 0.0656 0.1534 0.0000 0.6623 0.9215

IGAR 2013 0.0393 0.1402 0.0000 0.8403 1.0589

IGAR 2014 0.0181 0.2060 0.0000 2.0537 0.6595

IGAR 2015 0.0875 0.1797 0.0000 1.6241 0.8956

IGAR 2016 0.0365 0.2070 0.0000 0.4831 0.5693

IGAR 2017 0.0585 0.1888 0.0000 0.2653 0.6138

IMAS 2010 0.0536 0.1135 0.0528 0.6575 -0.2858

IMAS 2011 0.0555 0.1357 0.6321 3.6735 -0.6121

IMAS 2012 0.1019 0.0903 0.1194 0.4739 -0.4874

IMAS 2013 0.0649 0.0580 0.1235 0.5128 -0.3408

IMAS 2014 0.0357 0.0181 0.0685 0.6211 -0.1016

IMAS 2015 0.0372 0.0217 0.0471 1.2848 -0.1716

IMAS 2016 0.0334 0.0068 0.0388 0.1912 -0.0384

IMAS 2017 0.0516 0.0138 0.0718 0.5917 -0.3195

84

INCI 2010 0.0002 -0.0909 -0.0016 1.0941 2.9686

INCI 2011 0.0037 -0.0822 -0.0016 2.2670 2.9683

INCI 2012 0.1561 0.0589 0.0046 1.0941 2.1259

INCI 2013 0.1496 0.0968 0.0017 1.9868 1.7488

INCI 2014 0.0872 0.0968 -0.0026 4.0189 1.6730

INCI 2015 0.0251 0.1528 0.0003 2.5455 1.3282

INCI 2016 0.0154 0.1034 0.0055 1.9892 1.4831

INCI 2017 0.0325 0.0946 0.0000 0.5333 1.5565

INCO 2010 0.0715 0.2493 -0.0008 0.2571 -1.1992

INCO 2011 0.0959 0.1967 0.0689 0.3922 -1.0281

INCO 2012 0.0658 0.0760 -0.0168 0.5291 -0.2347

INCO 2013 0.0748 0.0795 -0.0200 1.9231 -0.3294

INCO 2014 0.0343 0.1313 -0.0167 0.0690 -0.7090

INCO 2015 0.0507 0.0819 -0.0179 0.1531 -0.3507

INCO 2016 0.0299 0.0535 -0.0160 0.1776 -0.0668

INCO 2017 0.0339 0.0506 -0.0170 0.1733 -0.0111

INTP 2010 0.0328 0.2898 -0.0042 0.1565 -1.1521

INTP 2011 0.0334 0.2780 -0.0046 0.1468 -1.2012

INTP 2012 0.0530 0.3050 -0.0017 0.1115 -1.3440

INTP 2013 0.0887 0.2558 -0.0014 0.3764 -1.3464

INTP 2014 0.1300 0.2319 -0.0015 0.2004 -1.3560

INTP 2015 0.0924 0.1838 -0.0006 0.0560 -1.2104

INTP 2016 0.0329 0.2123 -0.0004 0.0812 -1.0256

INTP 2017 0.0255 0.1402 -0.0001 0.2283 -0.6327

ISAT 2010 0.1180 0.1290 -0.0159 1.4085 -2.4972

ISAT 2011 0.1134 0.1430 -0.0428 0.8929 -2.5158

ISAT 2012 0.0837 0.1189 -0.0136 1.1583 -2.4546

ISAT 2013 0.1688 0.1139 -0.0316 0.3003 -1.8385

ISAT 2014 0.1179 0.1163 -0.0066 0.1848 -2.0434

ISAT 2015 0.1379 0.1428 -0.0390 0.6803 -2.1715

ISAT 2016 0.1301 0.1850 -0.0416 0.1942 -2.5097

ISAT 2017 0.1147 0.1997 -0.0050 0.2088 -2.5242

ITMG 2010 0.0424 0.2055 0.0000 0.0493 -0.8106

ITMG 2011 0.0452 0.5630 0.0000 0.0646 -1.3011

ITMG 2012 0.0328 0.3434 0.0000 0.6663 -1.2378

ITMG 2013 0.0312 0.2421 0.0000 1.5138 -0.9493

ITMG 2014 0.0270 0.2080 0.0000 0.0812 -0.8619

ITMG 2015 0.0209 0.1076 0.0000 0.2179 -0.1240

ITMG 2016 0.0172 0.1594 -0.0157 0.2227 -0.5967

ITMG 2017 0.0396 0.2624 0.0000 0.1209 -1.1496

JECC 2010 0.0163 0.0208 -0.0024 1.6667 1.6119

JECC 2011 0.0003 0.0793 0.0027 2.5210 1.1838

JECC 2012 0.0000 0.0808 -0.0012 2.1505 1.1206

85

JECC 2013 0.0550 0.0596 -0.0027 4.2017 0.7229

JECC 2014 0.0037 0.0374 -0.0013 18.9463 1.1125

JECC 2015 0.0160 0.0239 -0.0008 8.8180 1.0661

JECC 2016 0.0255 0.1162 -0.0180 3.7594 0.3756

JECC 2017 0.0431 0.0704 -0.0142 9.4972 0.6242

JKON 2010 0.0697 0.1021 0.1433 2.4845 0.5640

JKON 2011 0.0382 0.0953 0.0184 12.0163 0.5181

JKON 2012 0.0489 0.1151 0.0165 0.3401 0.3282

JKON 2013 0.0450 0.1093 0.2455 1.8519 0.1941

JKON 2014 0.0857 0.0881 0.0367 1.1905 0.2477

JKON 2015 0.0279 0.0850 -0.0387 7.2100 0.2830

JKON 2016 0.0373 0.1163 -0.0329 0.8130 0.1187

JKON 2017 0.0373 0.1091 0.0092 0.9346 0.1521

JPFA 2010 0.1008 0.3856 -0.0272 0.3953 -2.2665

JPFA 2011 0.1422 0.1289 0.0252 0.3279 -1.9835

JPFA 2012 0.1650 0.1643 0.1163 0.8197 -2.2772

JPFA 2013 0.1427 0.0925 0.1878 0.4115 -2.0523

JPFA 2014 0.1070 0.0576 -0.0060 0.2639 -1.8490

JPFA 2015 0.0450 0.0689 -0.0197 0.3953 -1.9291

JPFA 2016 0.0458 0.1631 0.0524 0.5128 -2.5003

JPFA 2017 0.0799 0.0929 0.0015 0.5736 -2.0872

JPRS 2010 0.0012 0.0862 0.0000 0.8547 1.0731

JPRS 2011 0.0001 0.0962 0.0000 0.5128 1.0293

JPRS 2012 0.0016 0.0252 0.0000 0.7519 1.6679

JPRS 2013 0.0001 0.0410 0.0000 0.9346 1.5665

JPRS 2014 0.0001 -0.0146 0.0000 0.2070 1.9975

JPRS 2015 0.0005 -0.0563 0.0000 0.4184 2.2828

JPRS 2016 0.0001 -0.0503 0.0000 1.4599 2.2120

JPRS 2017 0.0000 -0.0399 0.0000 0.3861 2.1285

JRPT 2010 0.0040 0.1078 -0.0484 0.3861 0.1549

JRPT 2011 0.0101 0.1103 -0.0101 3.2967 0.0585

JRPT 2012 0.0190 0.1096 -0.0002 0.4049 -0.0437

JRPT 2013 0.0014 0.1140 -0.0013 1.2346 -0.1694

JRPT 2014 0.0021 0.1266 -0.0030 0.4785 -0.2924

JRPT 2015 0.0076 0.1387 0.0471 1.0169 -0.4024

JRPT 2016 0.0016 0.1424 0.0095 2.2989 -0.4893

JRPT 2017 0.0051 0.1393 0.0338 1.6949 -0.5252

JSMR 2010 0.0027 0.0995 0.0954 0.3645 -2.2142

JSMR 2011 0.0139 0.0904 0.0160 0.2992 -2.1998

JSMR 2012 0.0142 0.0788 0.0851 0.4577 -2.3649

JSMR 2013 0.0111 0.0428 0.0691 0.5332 -2.1778

JSMR 2014 0.0083 0.0492 0.0366 0.3567 -2.3453

JSMR 2015 0.0055 0.0458 0.0703 0.2392 -2.4365

86

JSMR 2016 0.0078 0.0535 0.2964 0.1159 -2.7145

JSMR 2017 0.0068 0.0427 0.1967 0.3922 -2.8730

JTPE 2010 0.2817 0.5156 0.1055 0.4292 0.4035

JTPE 2011 0.2164 0.3862 -0.0288 0.8403 0.3453

JTPE 2012 0.1846 0.1768 0.0858 0.6803 0.7246

JTPE 2013 0.1081 0.1341 0.0504 1.6667 0.8003

JTPE 2014 0.0806 0.0196 0.0924 0.3963 1.4877

JTPE 2015 0.1516 0.1524 0.1513 0.2151 0.4980

JTPE 2016 0.0268 0.1344 0.0639 0.6452 0.5243

JTPE 2017 0.0359 0.1192 -0.0548 1.4599 0.5628

KAEF 2010 0.0195 0.1124 -0.0025 0.3155 0.5533

KAEF 2011 0.0135 0.1304 -0.0029 0.7407 0.4066

KAEF 2012 0.0294 0.1432 -0.0029 0.6803 0.2827

KAEF 2013 0.0429 0.1359 -0.0012 2.6087 0.2528

KAEF 2014 0.0407 0.1183 0.0789 0.1709 0.1047

KAEF 2015 0.0458 0.1136 -0.0005 0.8696 0.1709

KAEF 2016 0.1078 0.1131 0.0506 0.1821 0.0180

KAEF 2017 0.1630 0.1006 0.1748 0.5587 -0.0651

KBLM 2010 0.0141 0.0377 0.0000 12.0000 1.7322

KBLM 2011 0.1454 0.0756 0.0000 0.4367 1.0589

KBLM 2012 0.0228 0.0582 0.0000 4.7244 1.1729

KBLM 2013 0.0261 0.0332 0.0000 17.4721 1.4781

KBLM 2014 0.0127 0.0588 0.0000 6.5292 1.2548

KBLM 2015 0.0315 0.0491 0.0000 0.4082 1.4119

KBLM 2016 0.0084 0.0620 0.0000 -19.7324 1.3580

KBLM 2017 0.0039 0.0946 0.0000 0.3559 0.7554

KDSI 2010 0.0207 0.0594 -0.0005 2.1739 1.4215

KDSI 2011 0.0344 0.0719 0.0037 10.1124 1.2303

KDSI 2012 0.0060 0.0842 0.0010 0.5076 1.1637

KDSI 2013 0.3183 0.0863 0.2234 1.4706 0.8844

KDSI 2014 0.0653 0.0783 -0.0043 1.2212 0.8196

KDSI 2015 0.0555 0.0411 -0.0104 7.8341 0.9922

KDSI 2016 0.0120 0.0649 -0.0033 5.7402 0.8450

KDSI 2017 0.0603 0.0890 0.0057 2.3256 0.6227

KIJA 2010 0.0040 0.0326 -0.0110 0.4329 0.7481

KIJA 2011 0.1244 0.1121 0.0685 0.2725 -0.0720

KIJA 2012 0.0627 0.0783 0.0953 0.2597 -0.0011

KIJA 2013 0.0214 0.0290 0.0094 0.2681 0.2176

KIJA 2014 0.0203 0.0265 0.0302 0.1745 0.1760

KIJA 2015 0.0086 0.0551 0.0525 0.2045 -0.0730

KIJA 2016 0.0152 0.0575 0.0312 0.3460 -0.1543

KIJA 2017 0.0077 0.0273 0.0244 0.3509 0.1374

KKGI 2010 0.0832 0.6462 -0.0305 0.3367 0.0646

87

KKGI 2011 0.0613 0.8998 -0.0157 0.3891 -0.2133

KKGI 2012 0.2845 0.2533 -0.0320 0.5025 -0.0513

KKGI 2013 0.0134 0.2294 -0.0669 0.6061 -0.0163

KKGI 2014 0.0114 0.0933 0.0189 0.2494 0.5889

KKGI 2015 0.0016 0.0793 -0.0249 2.8902 0.7517

KKGI 2016 0.0020 0.1130 0.0124 0.6711 0.4543

KKGI 2017 0.0096 0.1557 -0.0155 2.7027 0.1820

KLBF 2010 0.0725 0.2377 0.0005 0.3861 -0.6785

KLBF 2011 0.0667 0.2446 -0.0001 0.7407 -0.8361

KLBF 2012 0.0947 0.2410 0.0315 0.9524 -0.8990

KLBF 2013 0.1055 0.2363 0.0000 0.4016 -0.9377

KLBF 2014 0.0663 0.2148 -0.0259 0.5495 -0.9570

KLBF 2015 0.0727 0.1936 0.0079 0.1898 -0.8922

KLBF 2016 0.0759 0.2035 0.0017 0.1647 -0.9561

KLBF 2017 0.0764 0.1906 0.0001 0.1481 -0.9805

LION 2010 0.0071 0.1546 0.0000 5.8824 0.9018

LION 2011 0.0273 0.1844 0.0000 6.9767 0.6813

LION 2012 0.0178 0.2450 0.0000 4.2607 0.3821

LION 2013 0.0796 0.1597 0.0000 2.1277 0.6471

LION 2014 0.1022 0.1172 0.0000 6.0773 0.8936

LION 2015 0.0395 0.0964 0.0000 5.0000 1.0244

LION 2016 0.0282 0.0844 0.0000 13.0435 1.0531

LION 2017 0.0163 0.0322 0.0000 6.9930 1.5005

LMSH 2010 0.0038 0.1356 -0.1770 6.5217 1.5150

LMSH 2011 0.0063 0.1650 -0.0423 5.6604 1.3339

LMSH 2012 0.0546 0.4399 -0.0707 9.4527 0.6629

LMSH 2013 0.0114 0.1285 -0.0109 18.5185 1.3350

LMSH 2014 0.0597 0.0694 -0.3256 12.2349 1.7865

LMSH 2015 0.0044 0.0307 -0.0284 4.5872 2.1324

LMSH 2016 0.1552 0.0634 0.0000 7.2727 1.7385

LMSH 2017 0.0609 0.0973 0.0000 0.3891 1.5054

LPKR 2010 0.0273 0.0599 0.2479 0.7407 -0.1658

LPKR 2011 0.0240 0.0606 0.0650 0.7634 -0.2051

LPKR 2012 0.0515 0.0840 0.1037 0.5025 -0.5586

LPKR 2013 0.0518 0.0761 0.0027 0.5525 -0.6231

LPKR 2014 0.0200 0.1117 0.0522 0.2457 -0.9751

LPKR 2015 0.0131 0.0403 0.0126 0.2421 -0.5049

LPKR 2016 0.0128 0.0418 0.0200 0.3460 -0.5612

LPKR 2017 0.0248 0.0323 -0.0016 0.2045 -0.6519

LSIP 2010 0.0510 0.2550 -0.0438 0.1949 -0.6367

LSIP 2011 0.0437 0.3486 0.0000 0.5587 -0.8913

LSIP 2012 0.0790 0.2016 0.0000 0.5405 -0.5719

LSIP 2013 0.0983 0.1406 -0.0004 0.5208 -0.2515

88

LSIP 2014 0.0723 0.1508 0.0000 0.2639 -0.3893

LSIP 2015 0.0413 0.1091 0.0000 0.1898 -0.0761

LSIP 2016 0.0220 0.1088 0.0008 0.4329 -0.0470

LSIP 2017 0.0101 0.1215 0.0000 2.3423 -0.1905

LTLS 2010 0.0662 0.0585 0.0074 1.2658 -1.2443

LTLS 2011 0.0581 0.0436 0.0095 0.6289 -1.1940

LTLS 2012 0.0647 0.0479 0.0269 0.6803 -1.1619

LTLS 2013 0.0338 0.0552 0.0486 2.2222 -1.2181

LTLS 2014 0.0365 0.0672 -0.0063 0.1112 -1.3263

LTLS 2015 0.1037 0.0333 -0.0068 0.2004 -1.1774

LTLS 2016 0.0793 0.0443 0.0593 0.5682 -1.1504

LTLS 2017 0.0287 0.0576 0.0943 1.4778 -1.2866

MAIN 2010 0.1754 0.3736 -0.0019 1.1858 -1.5986

MAIN 2011 0.2146 0.3876 0.0301 1.0309 -1.7197

MAIN 2012 0.2407 0.3972 0.1358 0.5291 -1.8416

MAIN 2013 0.1965 0.2866 -0.0931 0.3953 -0.0779

MAIN 2014 0.3007 0.1344 0.3189 0.1175 0.6819

MAIN 2015 0.1009 0.1073 0.2298 0.3289 0.7506

MAIN 2016 0.0716 0.1781 -0.0429 0.1927 0.1888

MAIN 2017 0.0906 0.1634 -0.0517 0.3367 0.7277

MAPI 2010 0.1163 0.1361 -0.0158 0.5629 -1.3149

MAPI 2011 0.0924 0.1751 -0.0365 0.9615 -1.6956

MAPI 2012 0.1616 0.1764 0.0895 0.3774 -1.8490

MAPI 2013 0.1254 0.1308 0.0429 0.4525 -1.7454

MAPI 2014 0.0636 0.0808 0.0831 0.7937 -1.4948

MAPI 2015 0.0678 0.0706 0.1182 0.2639 -1.3531

MAPI 2016 0.0789 0.0882 0.0826 1.8868 -1.4982

MAPI 2017 0.0991 0.0970 -0.1091 0.1616 -1.5342

MERK 2010 0.0381 0.2988 0.0000 2.1053 0.2277

MERK 2011 0.0095 0.5570 0.0000 7.2321 0.0113

MERK 2012 0.0222 0.2030 0.0000 2.0000 0.3256

MERK 2013 0.0168 0.3268 0.0000 2.4390 0.0421

MERK 2014 0.0334 0.2759 0.0000 3.8462 0.0336

MERK 2015 0.0597 0.2172 0.0000 0.3704 0.2004

MERK 2016 0.0182 0.2607 0.0000 1.5172 0.1360

MERK 2017 0.0788 0.2166 0.0403 2.1834 0.2001

MICE 2010 0.0855 0.1531 0.1380 0.6211 1.0527

MICE 2011 0.1626 0.1306 0.0557 1.3889 1.0350

MICE 2012 0.0526 0.1446 -0.0121 0.6623 0.9477

MICE 2013 0.0330 0.1329 -0.0215 1.2346 0.8826

MICE 2014 0.0319 0.1064 -0.0139 0.1418 1.0971

MICE 2015 0.0422 0.0758 -0.0106 4.2857 1.2069

MICE 2016 0.0588 0.0355 0.0039 3.4483 1.3035

89

MICE 2017 0.0308 0.0960 -0.0087 1.4493 0.7908

MKPI 2010 0.1059 0.2054 -0.0380 8.1967 -0.0263

MKPI 2011 0.2012 0.2256 -0.0011 7.4074 -0.1245

MKPI 2012 0.1139 0.2165 0.0862 19.0476 -0.1665

MKPI 2013 0.1370 0.1923 -0.0075 22.5806 -0.1537

MKPI 2014 0.1097 0.1998 0.0283 0.3257 -0.3140

MKPI 2015 0.0682 0.2364 0.0209 1.4663 -0.6196

MKPI 2016 0.0896 0.2328 0.0365 4.5685 -0.7335

MKPI 2017 0.0788 0.1999 0.0231 8.6207 -0.6923

MLBI 2010 0.1404 0.5396 0.0000 0.7326 -0.2654

MLBI 2011 0.1618 0.5433 0.0000 2.1505 -0.2950

MLBI 2012 0.1562 0.4433 0.0000 2.0690 -0.2613

MLBI 2013 0.4231 1.1492 0.0000 9.0909 -0.4644

MLBI 2014 0.2493 0.5353 0.0000 0.4202 -0.5428

MLBI 2015 0.0812 0.3101 0.0000 0.7541 -0.4308

MLBI 2016 0.0809 0.5607 0.0000 0.5291 -0.5596

MLBI 2017 0.1493 0.6810 0.0000 0.4550 -0.6041

MNCN 2010 0.0228 0.1285 -0.0105 0.5348 -0.3243

MNCN 2011 0.0106 0.1702 -0.0271 0.3831 -0.5544

MNCN 2012 0.0307 0.2254 -0.0061 0.5025 -0.8401

MNCN 2013 0.0785 0.2297 -0.0838 0.4785 -0.8582

MNCN 2014 0.1340 0.2239 0.2640 0.1972 -0.8974

MNCN 2015 0.1044 0.1206 -0.0052 0.1350 -0.4094

MNCN 2016 0.0576 0.1338 -0.0740 0.1427 -0.5971

MNCN 2017 0.0402 0.1533 -0.0620 0.3906 -0.7848

MPPA 2010 0.0094 0.5773 -0.2994 0.3367 -2.8034

MPPA 2011 0.0298 0.0312 0.0968 0.5405 -1.3045

MPPA 2012 0.0370 0.0501 -0.0281 0.4329 -1.3680

MPPA 2013 0.0364 0.0786 -0.2209 0.2584 0.0517

MPPA 2014 0.0005 0.1242 -0.0286 0.0819 0.0055

MPPA 2015 0.0235 0.0960 0.1175 0.1372 0.3274

MPPA 2016 0.0155 0.0640 0.0166 0.1692 0.4321

MPPA 2017 0.0086 -0.1321 0.1104 0.2208 1.5047

MRAT 2010 0.0224 0.0871 0.0004 0.7752 1.3082

MRAT 2011 0.0197 0.0917 -0.0008 0.9901 1.2728

MRAT 2012 0.0381 0.0967 0.0000 0.5128 1.2251

MRAT 2013 0.0317 0.0117 0.0006 1.0638 1.7232

MRAT 2014 0.0140 0.0381 0.0057 0.4304 1.2688

MRAT 2015 0.0105 0.0195 -0.0035 1.2165 1.7604

MRAT 2016 0.0058 0.0041 -0.0032 3.7037 1.8244

MRAT 2017 0.0142 0.0130 -0.0029 0.4831 1.7401

MTDL 2010 0.0644 0.1427 0.0242 0.4329 -1.0727

MTDL 2011 0.1194 0.1279 -0.0003 0.4651 -0.8138

90

MTDL 2012 0.1174 0.1610 0.0162 0.3344 -1.1198

MTDL 2013 0.0334 0.1421 0.0061 0.9671 0.2970

MTDL 2014 0.0062 0.1213 -0.0063 0.4460 0.0875

MTDL 2015 0.0070 0.1241 -0.0083 0.4102 -0.0186

MTDL 2016 0.0236 0.0967 -0.0118 0.3990 0.1116

MTDL 2017 0.0134 0.1013 -0.0220 0.3861 0.1089

MTSM 2010 0.0039 0.0220 0.0000 19.0476 2.3724

MTSM 2011 0.0052 0.0575 0.0000 13.0435 2.1590

MTSM 2012 0.0010 0.0792 0.0000 13.8211 1.8818

MTSM 2013 0.0447 -0.0170 0.0000 13.8211 2.6765

MTSM 2014 0.0504 0.0007 0.0000 7.3359 2.6546

MTSM 2015 0.0236 -0.0487 0.0000 19.3717 2.8775

MTSM 2016 0.0022 -0.0248 0.0000 0.0000 2.7856

MTSM 2017 0.1206 -0.0551 0.0000 0.7463 2.9385

MYOR 2010 0.0463 0.2067 0.1538 0.2717 -1.9416

MYOR 2011 0.1141 0.1549 0.2363 0.9288 -1.9330

MYOR 2012 0.0938 0.1539 0.1332 0.0728 -2.0930

MYOR 2013 0.0575 0.1660 -0.0055 0.3861 -2.2216

MYOR 2014 0.0692 0.0845 0.0096 0.3601 -1.7949

MYOR 2015 0.0450 0.1669 -0.0151 4.0956 -2.3425

MYOR 2016 0.0447 0.1678 -0.0207 0.1517 -2.3636

MYOR 2017 0.0319 0.1680 0.0023 4.4917 -2.4393

NIPS 2010 0.0395 0.0665 -0.0342 0.0000 1.4983

NIPS 2011 0.0844 0.0805 0.0483 8.9109 1.1348

NIPS 2012 0.0510 0.0752 -0.0162 3.7975 0.1726

NIPS 2013 0.0463 0.0957 0.0474 1.5723 0.6639

NIPS 2014 0.1204 0.0915 0.2884 0.1028 0.6513

NIPS 2015 0.2123 0.0483 0.1548 0.4684 0.8699

NIPS 2016 0.0000 0.0661 0.0387 3.8043 0.7999

NIPS 2017 0.0000 0.0371 -0.0237 3.7344 0.8878

PANR 2010 0.0974 0.1028 -0.0644 5.9561 0.2831

PANR 2011 0.0157 0.1070 -0.0489 0.3215 0.1095

PANR 2012 0.0330 0.1275 0.1019 0.5102 0.7571

PANR 2013 0.0763 0.1257 0.0622 0.6452 -0.9480

PANR 2014 0.0087 0.1397 -0.0526 0.1036 -1.1455

PANR 2015 0.0564 0.0683 0.1060 0.4454 -0.8536

PANR 2016 0.0166 0.0344 -0.0195 0.4016 -0.8606

PANR 2017 0.0087 0.0434 -0.0909 0.4525 -0.8467

PDES 2010 0.0150 0.0579 -0.0785 4.5918 1.8387

PDES 2011 0.0139 0.1004 -0.0256 10.9170 1.4643

PDES 2012 0.0132 0.0915 -0.1270 31.5789 1.5398

PDES 2013 0.1715 0.1615 0.1487 6.1818 0.9917

PDES 2014 0.0058 0.1200 -0.0747 4.8232 1.3588

91

PDES 2015 0.0238 0.1013 -0.0784 10.8033 1.5213

PDES 2016 0.0152 0.1519 0.0717 7.0111 0.9130

PDES 2017 0.0065 0.1527 -0.0842 1.5625 1.0382

PICO 2010 0.0002 0.0890 0.0650 15.4930 0.6809

PICO 2011 0.0002 0.0493 -0.0087 1.2788 1.1140

PICO 2012 0.0000 0.0451 0.0732 19.1919 1.0836

PICO 2013 0.0103 0.0499 0.0147 8.1967 0.9978

PICO 2014 0.0038 0.0536 -0.0379 5.6478 0.9951

PICO 2015 0.0015 0.0363 -0.0847 3.3058 0.9643

PICO 2016 0.0087 0.0366 -0.0009 4.3062 0.9833

PICO 2017 0.0098 0.0452 0.0042 1.3333 0.8848

PJAA 2010 0.1367 0.1510 -0.0523 1.2048 -1.0961

PJAA 2011 0.1586 0.1643 0.0319 0.4975 -1.1961

PJAA 2012 0.1850 0.1798 0.1900 2.0134 -1.2998

PJAA 2013 0.1203 0.1484 0.0167 5.3140 -1.1000

PJAA 2014 0.0704 0.1332 0.0000 1.7544 -1.3555

PJAA 2015 0.0810 0.1409 -0.0378 1.1236 -1.5138

PJAA 2016 0.0891 0.0882 0.1625 2.5381 -1.2036

PJAA 2017 0.0693 0.0955 -0.0371 0.1898 -1.3321

PLIN 2010 0.0401 0.1519 -0.1074 2.3136 -0.2349

PLIN 2011 0.0578 0.0567 -0.0421 0.3215 0.6145

PLIN 2012 0.0618 0.1062 0.0118 3.2258 0.3385

PLIN 2013 0.0113 0.0645 -0.0338 3.2746 0.6094

PLIN 2014 0.0229 0.1363 0.0291 18.1102 0.0109

PLIN 2015 0.0219 0.1083 -0.0291 5.3254 0.2163

PLIN 2016 0.0164 0.2036 -0.1231 3.1915 0.0500

PLIN 2017 0.0164 0.1104 0.0866 1.4085 -0.1572

PTBA 2010 0.0606 0.2562 0.0000 0.1088 -0.9365

PTBA 2011 0.0270 0.3625 0.0006 0.1443 -1.1502

PTBA 2012 0.0556 0.2612 -0.0069 0.3322 -1.1107

PTBA 2013 0.0876 0.1584 -0.1317 0.2457 -0.8119

PTBA 2014 0.0620 0.1791 0.1498 0.1996 -0.8869

PTBA 2015 0.0462 0.1623 -0.0724 0.1104 -0.9045

PTBA 2016 0.0174 0.1454 -0.0237 0.1001 -0.8762

PTBA 2017 0.0365 0.2817 -0.0765 0.2037 -1.3307

PTRO 2010 0.2987 0.3399 -0.1017 6.9519 -0.2819

PTRO 2011 0.3419 0.4105 0.1390 9.3248 -0.4595

PTRO 2012 0.3004 0.2915 0.0327 0.3774 -0.4635

PTRO 2013 0.0608 0.1897 -0.1342 0.4329 -0.2405

PTRO 2014 0.0780 0.1397 -0.0953 0.2710 0.3636

PTRO 2015 0.0945 0.0912 -0.0745 0.5146 0.7449

PTRO 2016 0.0291 0.0916 -0.0462 0.3460 0.8378

PTRO 2017 0.1272 0.1440 -0.0207 0.1508 0.3056

92

PUDP 2010 0.0284 0.0611 -0.0404 2.2688 1.7138

PUDP 2011 0.0297 0.0960 -0.0131 1.4963 1.3388

PUDP 2012 0.0706 0.0816 0.0770 2.9106 1.4299

PUDP 2013 0.0156 0.0922 -0.0216 0.5291 1.3168

PUDP 2014 0.0214 0.0605 0.0282 2.7460 1.5170

PUDP 2015 0.0213 0.0858 0.0757 1.7751 1.2523

PUDP 2016 0.0190 0.0682 0.1469 3.3079 1.2966

PUDP 2017 0.1186 0.0276 -0.0973 5.2854 1.6767

PWON 2010 0.1123 0.0889 0.0128 0.6961 -1.4911

PWON 2011 0.0130 0.1001 0.2972 0.8043 -1.6266

PWON 2012 0.0136 0.1582 0.0493 1.1236 -2.0602

PWON 2013 0.0057 0.1757 -0.0217 0.9346 -0.6628

PWON 2014 0.0237 0.3025 0.2207 0.4878 -1.1916

PWON 2015 0.0310 0.1010 -0.0035 0.1007 -0.5897

PWON 2016 0.0133 0.1129 0.0095 0.4405 -0.7165

PWON 2017 0.0067 0.1163 0.0083 0.3663 -0.8127

PYFA 2010 0.0298 0.0983 -0.0609 0.3922 2.1064

PYFA 2011 0.0291 0.1112 0.0107 0.2849 1.9598

PYFA 2012 0.1090 0.0976 0.0913 1.4327 1.8654

PYFA 2013 0.0963 0.1045 0.0899 0.3436 1.7148

PYFA 2014 0.0201 0.0772 -0.0470 0.3717 1.9085

PYFA 2015 0.0116 0.0759 -0.0438 0.4484 1.9550

PYFA 2016 0.0161 0.0896 -0.0496 0.9901 1.8848

PYFA 2017 0.0198 0.0942 -0.0340 1.6129 1.8632

RALS 2010 0.0763 0.1887 0.0075 0.5917 0.0509

RALS 2011 0.0468 0.1885 0.0000 0.6993 0.0350

RALS 2012 0.0606 0.2105 0.0000 0.4115 -0.0366

RALS 2013 0.1035 0.2055 0.0000 0.4739 0.0453

RALS 2014 0.0289 0.1859 0.0000 0.3175 0.1399

RALS 2015 0.0319 0.1492 -0.0298 0.3891 0.1928

RALS 2016 0.0263 0.1597 -0.0446 0.4202 0.0459

RALS 2017 0.0302 0.1535 0.0000 0.6289 0.0439

RDTX 2010 0.0254 0.3162 0.0000 1.1494 0.0640

RDTX 2011 0.3117 0.1733 0.0000 -5.2632 0.4297

RDTX 2012 0.0670 0.1483 -0.0009 8.3591 0.4543

RDTX 2013 0.3484 0.1954 -0.0042 1.0101 0.0993

RDTX 2014 0.0213 0.1742 0.0000 10.6383 0.0766

RDTX 2015 0.0347 0.1808 0.0000 9.2437 0.0337

RDTX 2016 0.0017 0.1588 -0.0001 24.7588 0.0746

RDTX 2017 0.0011 0.1359 0.0004 3.5857 0.1625

RICY 2010 0.0104 0.0472 -0.0143 0.5556 -0.1448

RICY 2011 0.0416 0.0491 0.0071 0.2710 1.4492

RICY 2012 0.1322 0.0589 0.2307 0.2882 1.1372

93

RICY 2013 0.0935 0.0441 0.2244 2.3810 0.9999

RICY 2014 0.0986 0.0446 0.0535 0.5814 1.0909

RICY 2015 0.0490 0.0439 0.0105 4.0000 1.0687

RICY 2016 0.0342 0.0460 0.0247 5.1195 0.9763

RICY 2017 0.0337 0.0461 -0.0113 2.0408 0.9602

RUIS 2010 0.0254 0.1004 -0.0783 1.2346 -0.3767

RUIS 2011 0.6227 0.0920 0.4142 1.1236 -0.7981

RUIS 2012 0.0307 0.0827 -0.0684 1.2658 0.7821

RUIS 2013 0.0122 0.0684 0.0052 0.2611 0.7251

RUIS 2014 0.0280 0.0862 -0.0098 0.6961 0.5249

RUIS 2015 0.0204 0.0784 -0.1809 1.6018 0.7050

RUIS 2016 0.0242 0.0756 -0.1296 2.1645 0.9370

RUIS 2017 0.0126 0.0769 -0.0413 0.4329 1.1279

SCMA 2010 0.0094 0.2660 0.0011 0.3509 -0.4092

SCMA 2011 0.0129 0.4015 0.0013 0.3195 -0.6515

SCMA 2012 0.0195 0.2746 -0.1060 0.5587 -0.6441

SCMA 2013 0.0275 0.3618 -0.0008 0.9615 -0.7549

SCMA 2014 0.0299 0.3880 -0.0147 0.0714 -0.8229

SCMA 2015 0.0608 0.3479 -0.0253 0.4042 -0.8102

SCMA 2016 0.0279 0.3615 -0.0332 0.1783 -0.8202

SCMA 2017 0.0283 0.3044 -0.0311 0.2020 -0.7765

SDPC 2010 0.0023 0.0197 -0.0019 1.3889 1.8006

SDPC 2011 0.0064 0.0259 -0.0002 1.4925 1.5932

SDPC 2012 0.0039 0.0410 0.0000 0.5525 1.4677

SDPC 2013 0.0078 0.0365 -0.0002 4.9724 1.3475

SDPC 2014 0.0092 0.0256 -0.0009 1.1494 1.3086

SDPC 2015 0.0051 0.0324 -0.0006 1.4925 1.1427

SDPC 2016 0.0133 0.0259 -0.0005 6.3584 1.0943

SDPC 2017 0.0090 0.0254 0.0814 0.4566 1.0599

SGRO 2010 0.0563 0.2503 0.0539 0.3953 -0.3009

SGRO 2011 0.1397 0.2363 0.0238 0.4219 -0.3491

SGRO 2012 0.1275 0.1559 0.1492 0.4975 0.0437

SGRO 2013 0.0464 0.0805 0.0871 0.6211 0.4845

SGRO 2014 0.0997 0.1295 0.0876 0.3584 0.0282

SGRO 2015 0.0666 0.0903 0.1885 0.1468 0.0245

SGRO 2016 0.0218 0.1179 0.0561 0.3911 -0.1818

SGRO 2017 0.0340 0.0859 -0.0237 0.1949 0.0844

SMAR 2010 0.0835 0.1524 -0.0199 1.4778 -0.6726

SMAR 2011 0.0555 0.1686 0.0534 0.7752 -0.8783

SMAR 2012 0.0931 0.1720 0.0251 0.7634 -2.5251

SMAR 2013 0.0949 0.0820 -0.0067 1.6181 -1.9731

SMAR 2014 0.0612 0.1084 -0.0243 1.4085 -2.2465

SMAR 2015 0.0844 0.0108 0.0399 3.0675 -1.5840

94

SMAR 2016 0.0460 0.1387 0.1584 2.2472 -2.1048

SMAR 2017 0.0370 0.0762 -0.0311 0.1464 -2.0834

SMCB 2010 0.0352 0.1860 -0.0002 0.5587 -0.4785

SMCB 2011 0.0910 0.1615 -0.1047 0.5780 -0.4147

SMCB 2012 0.1680 0.1755 0.0141 0.4329 -0.5347

SMCB 2013 0.2530 0.1275 0.0498 1.0989 -0.3647

SMCB 2014 0.1905 0.0883 0.0839 0.3421 -0.1863

SMCB 2015 0.0885 0.0651 0.0612 0.2519 0.0220

SMCB 2016 0.0319 0.0486 -0.5158 0.2770 0.1114

SMCB 2017 0.0217 0.0135 0.4374 0.5988 0.3242

SMGR 2010 0.2475 0.3197 0.0378 0.2653 -1.2312

SMGR 2011 0.2615 0.2906 0.0691 0.2188 -1.2691

SMGR 2012 0.1710 0.2893 0.0409 0.1580 -1.3852

SMGR 2013 0.0959 0.2433 -0.0042 0.3534 -1.4144

SMGR 2014 0.0683 0.2241 -0.0181 0.1546 -1.4242

SMGR 2015 0.1505 0.1759 -0.0079 0.1098 -1.2740

SMGR 2016 0.1328 0.1640 0.0138 0.1364 -1.1596

SMGR 2017 0.0789 0.0923 0.0678 1.9802 -0.9836

SMRA 2010 0.0478 0.0717 0.0014 0.4608 -1.4954

SMRA 2011 0.0976 0.0805 0.0564 1.2346 -1.6421

SMRA 2012 0.0812 0.1141 0.0635 0.2653 -1.9696

SMRA 2013 0.0719 0.1158 0.1247 0.6369 -2.1110

SMRA 2014 0.0737 0.1192 0.1309 0.1647 -2.3158

SMRA 2015 0.0372 0.0822 0.1157 0.3040 -2.1486

SMRA 2016 0.0209 0.0466 0.0630 0.1890 -1.9709

SMRA 2017 0.0096 0.0417 0.0257 0.2639 -1.9072

SMSM 2010 0.1104 0.2569 0.1223 0.5629 0.1563

SMSM 2011 0.1013 0.2799 0.0029 0.4392 -1.6241

SMSM 2012 0.0800 0.2810 0.0649 0.4777 -1.6815

SMSM 2013 0.0619 0.2975 -0.0463 1.0976 -1.7593

SMSM 2014 0.0643 0.3087 -0.0313 0.7634 -1.8432

SMSM 2015 0.0548 0.3280 -0.0072 0.6342 -1.8818

SMSM 2016 0.0322 0.2755 -0.0839 1.0309 -0.3062

SMSM 2017 0.0291 0.2954 -0.0048 0.9901 -0.3530

SONA 2010 0.0362 0.1848 -0.0443 14.2857 0.5726

SONA 2011 0.2090 0.1700 -0.0419 13.3005 0.6921

SONA 2012 0.0069 0.1920 -0.0659 14.2857 0.4831

SONA 2013 0.0127 0.0972 -0.0196 13.2743 0.9310

SONA 2014 0.1033 0.1570 -0.0270 4.8780 0.4217

SONA 2015 0.0507 0.0979 -0.0300 15.6738 0.9785

SONA 2016 0.0136 0.0571 -0.0307 -0.3984 1.5359

SONA 2017 0.0259 0.1254 -0.0347 7.7844 0.8841

SPMA 2010 0.0261 0.0691 -0.0377 2.0833 0.8321

95

SPMA 2011 0.0408 0.0711 -0.0193 1.0526 0.9871

SPMA 2012 0.0223 0.0743 0.0168 0.8547 0.9014

SPMA 2013 0.0292 0.0326 -0.0269 1.2048 1.2233

SPMA 2014 0.0445 0.0740 0.0576 1.2853 0.7165

SPMA 2015 0.0282 0.0222 -0.0257 3.0000 1.1179

SPMA 2016 0.0290 0.0778 -0.0476 1.2788 0.5805

SPMA 2017 0.0164 0.0831 -0.0363 3.6036 0.5895

STTP 2010 0.0410 0.1171 0.0000 1.2987 1.0974

STTP 2011 0.4563 0.1203 0.0001 0.7194 0.7425

STTP 2012 0.1129 0.1287 0.0000 4.5226 0.5249

STTP 2013 0.1103 0.1311 0.0839 10.1449 -1.2118

STTP 2014 0.0627 0.1213 0.1372 2.8668 -1.2918

STTP 2015 0.0783 0.1431 -0.0073 1.0700 -1.5034

STTP 2016 0.0807 0.1180 0.2268 7.5362 -1.4999

STTP 2017 0.0111 0.1210 -0.1207 1.0216 -1.5073

TBLA 2010 0.0589 0.1286 -0.0087 0.6061 0.0422

TBLA 2011 0.0762 0.1511 -0.0055 0.8403 -0.1690

TBLA 2012 0.1147 0.0913 0.2407 0.5128 -1.4481

TBLA 2013 0.1242 0.0499 0.0660 0.5348 -1.2873

TBLA 2014 0.0950 0.1078 0.0481 0.3300 -1.7649

TBLA 2015 0.1915 0.0657 0.1693 1.9231 -1.5368

TBLA 2016 0.1385 0.1061 0.1664 0.2532 -1.9933

TBLA 2017 0.0885 0.1114 -0.0062 0.6160 -2.1018

TCID 2010 0.0639 0.1934 0.0000 1.7301 0.4497

TCID 2011 0.0776 0.1928 0.0000 2.8391 0.4002

TCID 2012 0.0745 0.1917 0.0000 3.5294 0.4050

TCID 2013 0.2497 0.1849 0.0000 2.5862 0.3529

TCID 2014 0.2078 0.1716 0.0000 0.0714 0.2988

TCID 2015 0.0740 0.3481 0.0000 2.9412 -0.4136

TCID 2016 0.0656 0.1316 0.0000 1.3807 0.4645

TCID 2017 0.0632 0.1386 0.0000 5.5269 0.4491

TGKA 2010 0.0283 0.0923 0.0000 5.4264 0.4450

TGKA 2011 0.0301 0.0788 0.0000 18.2266 0.4229

TGKA 2012 0.0210 0.0735 0.0000 9.0909 0.3838

TGKA 2013 0.0107 0.0699 0.0000 13.2075 0.3766

TGKA 2014 0.0050 0.0790 0.0000 9.4340 0.2295

TGKA 2015 0.0044 0.0946 0.0000 9.5890 0.1101

TGKA 2016 0.0013 0.0933 0.0000 10.4478 0.1735

TGKA 2017 0.0031 0.1072 0.0000 12.5541 0.1547

TINS 2010 0.0700 0.2510 0.0000 0.4596 -0.5950

TINS 2011 0.0708 0.2192 0.0000 0.2650 -0.5030

TINS 2012 0.0855 0.1277 0.0000 0.2874 0.0830

TINS 2013 0.0739 0.1493 0.0000 1.2646 -0.2549

96

TINS 2014 0.0501 0.1277 0.0000 0.4082 -0.4181

TINS 2015 0.0659 0.0570 0.0000 0.4975 0.3010

TINS 2016 0.0577 0.0752 0.0000 0.2320 0.1755

TINS 2017 0.0817 0.1066 0.1571 0.3215 -0.2742

TKIM 2010 0.0324 0.0523 -0.0121 0.4158 0.3379

TKIM 2011 0.0361 0.0661 -0.0086 0.5881 0.4700

TKIM 2012 0.0352 0.0493 -0.0236 1.2709 0.5694

TKIM 2013 0.0281 0.0541 -0.0184 1.4001 2.2303

TKIM 2014 0.0292 0.0426 0.0320 0.2933 2.3852

TKIM 2015 0.0770 0.0372 -0.0219 0.5025 2.6068

TKIM 2016 0.0011 0.0349 -0.0182 2.3411 2.5786

TKIM 2017 0.0061 0.0447 -0.0233 0.1709 1.4353

TLKM 2010 0.1529 0.3116 0.1706 0.3155 -1.9805

TLKM 2011 0.1313 0.3168 0.0085 0.3559 -3.5184

TLKM 2012 0.0798 0.3412 0.0094 0.8357 -3.6016

TLKM 2013 0.1764 0.3558 -0.0066 0.5780 -3.6742

TLKM 2014 0.1929 0.3389 0.0058 0.0873 -3.7098

TLKM 2015 0.1868 0.2951 0.0835 0.0806 -3.7974

TLKM 2016 0.1612 0.2871 0.0047 0.1258 -3.8539

TLKM 2017 0.1798 0.2959 0.0160 0.1125 -3.9150

TOTL 2010 0.0091 0.0698 0.0000 0.9901 0.8232

TOTL 2011 0.0214 0.0860 0.0000 0.8850 0.6313

TOTL 2012 0.0161 0.1049 0.0114 0.5587 0.4509

TOTL 2013 0.0058 0.1132 0.0347 4.7619 0.3412

TOTL 2014 0.0026 0.0813 0.0000 0.2237 0.5161

TOTL 2015 0.0492 0.0872 0.0161 0.4082 0.4308

TOTL 2016 0.0099 0.0913 -0.0050 0.3257 0.3894

TOTL 2017 0.0136 0.0918 -0.0029 0.3774 0.3396

TOTO 2010 0.0204 0.2454 -0.1566 4.4118 0.0708

TOTO 2011 0.1526 0.2472 -0.0039 8.7912 -0.0035

TOTO 2012 0.0365 0.2211 -0.0004 2.6114 0.0126

TOTO 2013 0.1073 0.1966 -0.0014 3.3025 0.0424

TOTO 2014 0.1817 0.2072 -0.0010 3.2765 -0.0860

TOTO 2015 0.0772 0.1802 0.0697 0.3610 0.0145

TOTO 2016 0.0371 0.1069 -0.0026 0.2012 0.4643

TOTO 2017 0.0068 0.1444 -0.0027 0.4926 0.1220

TRST 2010 0.0173 0.1231 -0.0500 1.7857 0.5639

TRST 2011 0.0274 0.1266 -0.0124 0.6452 0.5051

TRST 2012 0.0493 0.0866 -0.0065 0.7299 0.8681

TRST 2013 0.0118 0.0719 -0.0076 1.0101 0.5256

TRST 2014 0.0098 0.0543 0.0152 1.6043 0.8136

TRST 2015 0.0145 0.0616 -0.0215 0.8000 0.8345

TRST 2016 0.0467 0.0640 -0.0127 1.3158 0.9553

97

TRST 2017 0.0460 0.0607 -0.0075 0.7916 0.9186

TSPC 2010 0.0338 0.1745 -0.0005 0.2933 -0.2287

TSPC 2011 0.0566 0.1907 -0.0005 1.4925 -0.3339

TSPC 2012 0.0496 0.1741 -0.0003 0.6757 -0.3330

TSPC 2013 0.0911 0.1584 -0.0004 3.1746 -0.3149

TSPC 2014 0.0745 0.1282 -0.0003 0.6146 -0.1721

TSPC 2015 0.0468 0.1182 -0.0001 1.1429 -0.1080

TSPC 2016 0.0618 0.1093 -0.0008 0.7673 -0.0789

TSPC 2017 0.0591 0.1068 0.0148 3.7464 -0.1353

TURI 2010 0.0608 0.2220 -0.0051 0.8547 -0.0665

TURI 2011 0.0613 0.2222 0.0052 0.8403 -0.1490

TURI 2012 0.0681 0.2275 0.0151 0.5405 -0.2684

TURI 2013 0.1398 0.1511 0.0274 0.9346 0.0797

TURI 2014 0.0449 0.1347 0.0680 0.4149 0.1127

TURI 2015 0.0426 0.1407 0.0086 0.4149 0.1188

TURI 2016 0.0422 0.1877 -0.0129 0.1927 -0.3198

TURI 2017 0.0227 0.1361 0.0275 0.2217 -0.2177

ULTJ 2010 0.1223 0.1085 0.0644 0.4975 0.3906

ULTJ 2011 0.1320 0.1261 -0.0905 0.9174 0.5694

ULTJ 2012 0.0159 0.2204 -0.0529 1.7699 -0.0808

ULTJ 2013 0.0367 0.1892 -0.0275 1.9946 0.0029

ULTJ 2014 0.0391 0.1554 -0.0133 0.6494 0.2419

ULTJ 2015 0.0836 0.2382 -0.0067 0.7136 -0.2796

ULTJ 2016 0.0117 0.2496 -0.0061 0.2192 -0.4555

ULTJ 2017 0.0826 0.2059 -0.0056 0.9560 -0.4107

UNIT 2010 0.1090 0.0488 0.0000 3.4722 2.0416

UNIT 2011 0.0900 0.0541 0.0000 5.5118 1.8444

UNIT 2012 0.2666 0.0531 0.0000 10.4000 1.6515

UNIT 2013 0.2446 0.0569 0.0000 11.5044 1.4396

UNIT 2014 0.0000 0.0442 0.0000 11.7750 1.5408

UNIT 2015 0.0004 0.0462 0.0000 6.1224 1.3768

UNIT 2016 0.0000 0.0455 0.0000 10.4294 1.5267

UNIT 2017 0.0000 0.0477 0.0000 1.3216 1.4791

UNTR 2010 0.1321 0.2700 0.0000 0.5272 -1.1757

UNTR 2011 0.1706 0.3073 0.0000 0.0950 -1.4817

UNTR 2012 0.1130 0.2091 0.0000 0.1271 -1.2800

UNTR 2013 0.0593 0.1818 0.0000 0.9296 -1.1868

UNTR 2014 0.0483 0.1555 0.0000 0.0721 -1.0821

UNTR 2015 0.0391 0.1115 0.0000 0.0737 -0.7609

UNTR 2016 0.0409 0.1391 0.0000 0.1768 -1.2448

UNTR 2017 0.1015 0.1787 0.0000 0.5682 -1.5872

UNVR 2010 0.1655 0.4923 0.0000 0.1517 -1.1062

UNVR 2011 0.1840 0.5201 0.0000 0.8043 -1.1852

98

UNVR 2012 0.1061 0.4989 0.0000 0.1200 -1.2421

UNVR 2013 0.0959 0.4897 0.0000 0.3831 -1.2675

UNVR 2014 0.0886 0.4961 0.0000 0.0775 -1.3171

UNVR 2015 0.1031 0.4451 0.0000 0.1353 -1.3497

UNVR 2016 0.1136 0.4413 0.0000 0.2571 -1.3766

UNVR 2017 0.0959 0.4573 0.0000 0.2691 -1.4266

WIKA 2010 0.0255 0.0636 0.0433 0.7092 0.3196

WIKA 2011 0.0465 0.0731 0.0149 0.8029 0.0659

WIKA 2012 0.0594 0.0736 0.0950 0.3272 -0.0829

WIKA 2013 0.0549 0.0694 0.0334 0.3066 -0.0866

WIKA 2014 0.0822 0.0742 0.0506 0.0733 -0.3041

WIKA 2015 0.0440 0.0613 -0.0135 0.0817 -0.3893

WIKA 2016 0.0199 0.0762 0.2977 0.2114 -0.7718

WIKA 2017 0.0318 0.0607 0.0303 0.1610 -0.8575

ADRO 2010 0.0519 0.0524 -0.0275 0.9901 -0.8214

ADRO 2011 0.1411 0.1246 0.1226 0.2833 -1.4095

ADRO 2012 0.0803 0.0725 0.0552 0.3155 -1.2461

ADRO 2013 0.0258 0.0438 -0.0463 0.4608 -1.2376

ADRO 2014 0.0085 0.0281 -0.0608 0.2410 -1.1157

ADRO 2015 0.0121 0.0262 -0.0584 0.4878 -0.9973

ADRO 2016 0.0127 0.0556 -0.0261 0.1477 -1.2401

ADRO 2017 0.0238 0.0822 -0.0171 0.1346 -1.4703

BATA 2010 0.0418 0.1900 0.0000 1.6012 0.5687

BATA 2011 0.0341 0.1588 0.0000 15.3846 0.7148

BATA 2012 0.0644 0.1750 0.0000 15.0442 0.5927

BATA 2013 0.0600 0.1173 0.0000 3.3816 0.8658

BATA 2014 0.0613 0.1559 0.0000 1.9956 0.6359

BATA 2015 0.0328 0.2093 0.0000 4.2553 0.2502

BATA 2016 0.0176 0.0950 0.0000 1.6077 1.0740

BATA 2017 0.0249 0.1041 0.0000 0.4405 0.9449

BRAM 2010 0.0997 -0.0040 0.0504 12.0879 1.4670

BRAM 2011 0.1316 0.0768 0.1159 5.6180 1.2325

BRAM 2012 0.1959 0.1806 -0.0045 12.7273 0.3338

BRAM 2013 0.0628 0.1086 0.0674 3.4483 0.8337

BRAM 2014 0.2753 0.1179 0.1723 11.0494 0.3912

BRAM 2015 0.0233 0.0954 -0.0513 0.8621 0.4528

BRAM 2016 0.0190 0.1244 -0.0985 -0.1869 0.2382

BRAM 2017 0.0474 0.1251 -0.0231 3.6907 0.1933

CTBN 2010 0.0561 0.1278 0.0045 11.1111 0.3548

CTBN 2011 0.0183 0.2073 -0.0096 2.8037 -0.2797

CTBN 2012 0.0191 0.1725 -0.0175 7.1429 -0.0521

CTBN 2013 0.0220 0.2057 -0.0138 9.0909 -0.2697

CTBN 2014 0.0548 0.1188 -0.0063 10.0000 0.2006

99

CTBN 2015 0.0536 0.0627 -0.0080 2.6455 0.7617

CTBN 2016 0.0074 0.0197 -0.0079 15.5556 1.3627

CTBN 2017 0.0050 -0.0346 -0.0092 0.9901 1.7253

GDYR 2010 0.0762 0.1575 -0.0464 8.2251 0.8561

GDYR 2011 0.0540 0.1122 -0.0593 0.7833 1.1341

GDYR 2012 0.0660 0.1526 -0.0612 10.1124 0.8886

GDYR 2013 0.1077 0.1618 -0.0570 3.8961 0.8521

GDYR 2014 0.1051 0.1264 0.0000 2.8939 0.9537

GDYR 2015 0.0778 0.1010 0.0000 4.2065 1.1799

GDYR 2016 0.0702 0.1027 0.0000 6.1728 1.1617

GDYR 2017 0.0784 0.0654 0.0000 9.5607 1.1773

INDR 2010 0.0322 0.0991 -0.0710 2.3392 0.4707

INDR 2011 0.1138 0.0692 0.0519 2.0408 0.5494

INDR 2012 0.0688 0.0566 -0.0146 5.7239 0.6769

INDR 2013 0.1018 0.0600 0.0202 0.5025 0.3362

INDR 2014 0.0931 0.0415 0.0098 1.9108 0.4728

INDR 2015 0.0848 0.0621 0.1204 5.4054 0.5108

INDR 2016 0.0752 0.0490 0.0461 0.0000 0.3246

INDR 2017 0.0126 0.0396 -0.0618 1.5748 0.3267

MASA 2010 0.2259 0.1163 0.0487 0.7634 0.3585

MASA 2011 0.1406 0.0800 0.2607 0.5025 0.3186

MASA 2012 0.0996 0.0677 0.3384 0.5587 0.5497

MASA 2013 0.0362 0.0840 0.0145 1.2987 0.4262

MASA 2014 0.0181 0.0626 0.0248 1.2048 0.5676

MASA 2015 0.0140 0.0218 -0.0412 -3.9672 0.8098

MASA 2016 0.0263 0.0519 -0.0324 0.3717 0.6370

MASA 2017 0.0643 0.0404 -0.0068 1.8182 0.5599

PBRX 2010 0.0325 0.0840 0.0945 0.2950 0.9141

PBRX 2011 0.2611 0.1585 -0.1032 0.5319 0.4360

PBRX 2012 0.0884 0.0828 -0.0016 2.5332 0.6593

PBRX 2013 0.0441 0.1068 0.4744 0.5571 0.5011

PBRX 2014 0.0712 0.0750 0.0674 0.4975 0.2623

PBRX 2015 0.1731 0.0572 0.1329 2.3256 0.3693

PBRX 2016 0.0308 0.0663 0.1422 1.0989 0.3350

PBRX 2017 0.0064 0.0423 0.0710 0.4695 0.2781

PGAS 2010 0.0398 0.2851 0.0785 0.2833 -1.4773

PGAS 2011 0.0223 0.2555 0.0001 0.3953 -1.4362

PGAS 2012 0.0381 0.3330 0.0000 1.3774 -1.6042

PGAS 2013 0.0667 0.3329 -0.0371 0.2801 -1.7157

PGAS 2014 0.0790 0.2303 0.3145 0.2088 -1.7557

PGAS 2015 0.0967 0.1361 0.1696 0.0912 -1.4991

PGAS 2016 0.0250 0.0951 0.0269 0.3690 -1.3863

PGAS 2017 0.0159 0.0894 -0.0597 0.1431 -1.2279

100

SMDR 2010 0.0555 0.0570 -0.0126 0.2433 0.5444

SMDR 2011 0.1738 0.0760 0.1058 1.3624 0.3242

SMDR 2012 0.0542 0.0687 -0.0283 0.5000 0.3615

SMDR 2013 0.0169 0.0744 -0.0475 8.3333 0.3024

SMDR 2014 0.0213 0.0842 -0.0537 1.2952 0.2127

SMDR 2015 0.0201 0.0757 -0.0634 2.2403 0.3269

SMDR 2016 0.0516 0.0670 -0.0243 0.5329 0.4919

SMDR 2017 0.0352 0.0671 -0.0368 0.2571 0.3032

UNIC 2010 0.0013 0.0510 -0.0264 11.6816 0.9286

UNIC 2011 0.0036 0.0611 -0.0579 19.6809 0.8235

UNIC 2012 0.0115 0.0401 -0.0213 10.0559 1.0774

UNIC 2013 0.0216 0.0885 -0.0720 14.5038 0.3108

UNIC 2014 0.0100 0.0315 0.0657 2.8832 1.0575

UNIC 2015 0.0040 0.0214 -0.0102 4.5455 0.9395

UNIC 2016 0.0125 0.1159 -0.0167 3.9130 0.7483

UNIC 2017 0.0140 0.0768 -0.0169 1.5827 0.5253

BMTR 2010 0.1040 0.1006 0.0456 0.7752 -0.4479

BMTR 2011 0.0165 0.1344 -0.0957 0.5076 -0.5977

BMTR 2012 0.0923 0.1767 0.0966 1.5873 -2.4566

BMTR 2013 0.0988 0.0955 0.0398 0.2639 -1.9302

BMTR 2014 0.1182 0.1198 0.1815 0.1757 -2.1119

BMTR 2015 0.0924 0.0705 -0.0134 0.2278 -1.6690

BMTR 2016 0.0514 0.0822 -0.0627 0.4082 -1.8218

BMTR 2017 0.1118 0.1081 -0.0162 0.4255 -0.6388

MLPL 2010 0.0259 0.5199 -0.0785 0.3484 -1.3102

MLPL 2011 0.0386 0.0332 0.0627 0.2915 0.1560

MLPL 2012 0.0468 0.0431 0.0963 0.1949 0.1573

MLPL 2013 0.0491 0.1533 0.2671 0.2985 -0.7927

MLPL 2014 0.0240 0.1373 -0.0074 0.6897 -0.7870

MLPL 2015 0.0222 -0.0195 0.0368 1.2048 0.3538

MLPL 2016 0.0265 0.0463 0.0202 0.3322 -0.2730

MLPL 2017 0.0131 -0.0475 0.0242 0.8403 0.5393

PLAS 2010 0.0029 0.1536 0.0000 0.4926 0.9552

PLAS 2011 0.0022 0.0171 0.0000 0.4405 1.9274

PLAS 2012 0.0002 0.0359 0.0000 4.1667 1.6312

PLAS 2013 0.0014 0.0344 0.0000 0.4115 1.5793

PLAS 2014 0.0014 0.0189 0.0000 0.1605 1.6285

PLAS 2015 0.0036 -0.0264 0.0000 0.1595 2.0487

PLAS 2016 0.0004 -0.0553 0.0000 -42.2475 2.1748

PLAS 2017 0.0030 -0.0379 0.0028 0.0000 2.0350

101

Lampiran 5: Hasil Regresi Logistik

Dependent Variable: DIVIDEND

Method: ML - Binary Logit (Newton-Raphson / Marquardt steps)

Date: 12/13/18 Time: 08:58

Sample: 2010 2017

Included observations: 1112

Convergence achieved after 5 iterations

Coefficient covariance computed using observed Hessian Variable Coefficient Std. Error z-Statistic Prob. C -1.115878 0.186236 -5.991754 0.0000

DTA 0.931084 0.414292 2.247411 0.0246

FIRM_SIZE 9.02E-15 4.23E-15 2.130724 0.0331

GROWTH_OPPORTUNITIES 0.010136 0.006769 1.497440 0.1343

PROFITABILITY 14.00190 1.503093 9.315395 0.0000

RE 0.370923 0.271183 1.367793 0.1714 McFadden R-squared 0.131467 Mean dependent var 0.617806

S.D. dependent var 0.486142 S.E. of regression 0.443660

Akaike info criterion 1.166163 Sum squared resid 217.6983

Schwarz criterion 1.193216 Log likelihood -642.3864

Hannan-Quinn criter. 1.176392 Deviance 1284.773

Restr. deviance 1479.245 Restr. log likelihood -739.6225

LR statistic 194.4722 Avg. log likelihood -0.577686

Prob(LR statistic) 0.000000 Obs with Dep=0 425 Total obs 1112

Obs with Dep=1 687

102

Lampiran 6: Hasil Principal Component Analysis

Principal Components Analysis

Date: 12/13/18 Time: 09:14

Sample: 2010 2017

Included observations: 1112

Computed using: Ordinary correlations

Extracting 3 of 3 possible components Eigenvalues: (Sum = 3, Average = 1)

Cumulative Cumulative

Number Value Difference Proportion Value Proportion 1 1.370881 0.415703 0.4570 1.370881 0.4570

2 0.955178 0.281237 0.3184 2.326059 0.7754

3 0.673941 --- 0.2246 3.000000 1.0000 Eigenvectors (loadings):

Variable PC 1 PC 2 PC 3 DRATE 0.560899 -0.616228 0.552861

LNTA 0.683693 -0.031799 -0.729077

PRED_DIV 0.466858 0.786926 0.403475 Ordinary correlations:

DRATE LNTA PRED_DIV

DRATE 1.000000

LNTA 0.272775 1.000000

PRED_DIV 0.046122 0.215417 1.000000

103

Lampiran 7: Daftar Financial Constraints dan Unconstraints Firms

Financial Constraints Firms Financial Unconstraints

Firms

KODE TAHUN KODE TAHUN

ACES 2010 AALI 2010

AKPI 2010 AALI 2011

AKPI 2011 AALI 2012

AKPI 2012 AALI 2013

AKPI 2013 AALI 2014

AKPI 2014 AALI 2015

AKPI 2015 AALI 2016

AKPI 2016 AALI 2017

AKPI 2017 ACES 2011

AKRA 2010 ACES 2012

ALMI 2010 ACES 2013

ALMI 2011 ACES 2014

ALMI 2012 ACES 2015

ALMI 2013 ACES 2016

ALMI 2014 ACES 2017

ALMI 2015 ADHI 2010

ALMI 2016 ADHI 2011

ALMI 2017 ADHI 2012

AMFG 2016 ADHI 2013

AMFG 2017 ADHI 2014

APLI 2010 ADHI 2015

APLI 2011 ADHI 2016

APLI 2012 ADHI 2017

APLI 2013 AKRA 2011

APLI 2014 AKRA 2012

APLI 2015 AKRA 2013

APLI 2016 AKRA 2014

APLI 2017 AKRA 2015

ARNA 2010 AKRA 2016

ARNA 2011 AKRA 2017

ARNA 2015 AMFG 2010

ARNA 2016 AMFG 2011

ARNA 2017 AMFG 2012

ASGR 2010 AMFG 2013

ASGR 2011 AMFG 2014

104

ASGR 2012 AMFG 2015

ASGR 2013 AMRT 2010

ASRI 2010 AMRT 2011

BAPA 2010 AMRT 2012

BAPA 2011 AMRT 2013

BAPA 2012 AMRT 2014

BAPA 2013 AMRT 2015

BAPA 2014 AMRT 2016

BAPA 2015 AMRT 2017

BAPA 2016 ANTM 2010

BAPA 2017 ANTM 2011

BCIP 2010 ANTM 2012

BCIP 2011 ANTM 2013

BCIP 2012 ANTM 2014

BCIP 2013 ANTM 2015

BCIP 2014 ANTM 2016

BCIP 2015 ANTM 2017

BCIP 2016 ARNA 2012

BCIP 2017 ARNA 2013

BISI 2010 ARNA 2014

BISI 2011 ASGR 2014

BISI 2012 ASGR 2015

BISI 2013 ASGR 2016

BISI 2014 ASGR 2017

BRNA 2010 ASRI 2011

BRNA 2011 ASRI 2012

BRNA 2012 ASRI 2013

BRNA 2013 ASRI 2014

BRNA 2014 ASRI 2015

BRNA 2015 ASRI 2016

BRNA 2016 ASRI 2017

BRNA 2017 AUTO 2010

BTON 2010 AUTO 2011

BTON 2011 AUTO 2012

BTON 2012 AUTO 2013

BTON 2013 AUTO 2014

BTON 2014 AUTO 2015

BTON 2015 AUTO 2016

BTON 2016 AUTO 2017

BTON 2017 BISI 2015

BUDI 2010 BISI 2016

105

BUDI 2011 BISI 2017

BUDI 2012 CEKA 2016

BUDI 2013 CMNP 2010

BUDI 2014 CMNP 2011

BUDI 2015 CMNP 2012

BUDI 2016 CMNP 2013

BUDI 2017 CMNP 2014

CEKA 2010 CMNP 2015

CEKA 2011 CMNP 2016

CEKA 2012 CMNP 2017

CEKA 2013 CPIN 2010

CEKA 2014 CPIN 2011

CEKA 2015 CPIN 2012

CEKA 2017 CPIN 2013

CLPI 2010 CPIN 2014

CLPI 2011 CPIN 2015

CLPI 2012 CPIN 2016

CLPI 2013 CPIN 2017

CLPI 2014 CTRA 2011

CLPI 2015 CTRA 2012

CLPI 2016 CTRA 2013

CLPI 2017 CTRA 2014

CSAP 2010 CTRA 2015

CSAP 2011 CTRA 2016

CSAP 2012 CTRA 2017

CSAP 2013 DLTA 2012

CSAP 2014 DLTA 2013

CSAP 2015 DLTA 2014

CSAP 2016 DLTA 2015

CSAP 2017 DLTA 2016

CTRA 2010 DLTA 2017

DLTA 2010 DSSA 2010

DLTA 2011 DSSA 2011

DPNS 2010 DSSA 2012

DPNS 2011 DSSA 2014

DPNS 2012 DSSA 2015

DPNS 2013 DSSA 2016

DPNS 2014 DSSA 2017

DPNS 2015 DUTI 2010

DPNS 2016 DUTI 2011

DPNS 2017 DUTI 2012

106

DSSA 2013 DUTI 2013

DVLA 2010 DUTI 2014

DVLA 2011 DUTI 2015

DVLA 2012 DUTI 2016

DVLA 2013 DUTI 2017

DVLA 2014 ELSA 2014

DVLA 2015 EPMT 2011

DVLA 2016 EPMT 2012

DVLA 2017 EPMT 2013

EKAD 2010 EPMT 2014

EKAD 2011 EPMT 2015

EKAD 2012 EPMT 2016

EKAD 2013 EPMT 2017

EKAD 2014 EXCL 2010

EKAD 2015 EXCL 2011

EKAD 2016 EXCL 2012

EKAD 2017 EXCL 2013

ELSA 2010 EXCL 2014

ELSA 2011 EXCL 2015

ELSA 2012 EXCL 2016

ELSA 2013 EXCL 2017

ELSA 2015 FAST 2010

ELSA 2016 FAST 2011

ELSA 2017 FAST 2012

EPMT 2010 FAST 2013

FASW 2011 FAST 2014

FASW 2012 FAST 2015

FASW 2013 FAST 2016

FASW 2014 FAST 2017

FASW 2015 FASW 2010

FISH 2010 FASW 2016

FISH 2011 FASW 2017

FISH 2012 GGRM 2010

FISH 2013 GGRM 2011

FISH 2014 GGRM 2012

FISH 2015 GGRM 2013

FISH 2016 GGRM 2014

FISH 2017 GGRM 2015

FORU 2010 GGRM 2016

FORU 2011 GGRM 2017

FORU 2012 GJTL 2010

107

FORU 2013 GJTL 2011

FORU 2014 GJTL 2012

FORU 2015 GJTL 2013

FORU 2016 GJTL 2014

FORU 2017 GJTL 2015

GEMA 2010 GJTL 2016

GEMA 2011 GJTL 2017

GEMA 2012 HERO 2012

GEMA 2013 HERO 2013

GEMA 2014 HMSP 2010

GEMA 2015 HMSP 2011

GEMA 2016 HMSP 2012

GEMA 2017 HMSP 2013

GPRA 2010 HMSP 2014

GPRA 2011 HMSP 2015

GPRA 2012 HMSP 2016

GPRA 2013 HMSP 2017

GPRA 2014 INDF 2010

GPRA 2015 INDF 2011

GPRA 2016 INDF 2012

GPRA 2017 INDF 2013

HERO 2010 INDF 2014

HERO 2011 INDF 2015

HERO 2014 INDF 2016

HERO 2015 INDF 2017

HERO 2016 IMAS 2010

HERO 2017 IMAS 2011

IGAR 2010 IMAS 2012

IGAR 2011 IMAS 2013

IGAR 2012 IMAS 2014

IGAR 2013 IMAS 2015

IGAR 2014 IMAS 2016

IGAR 2015 IMAS 2017

IGAR 2016 INCO 2010

IGAR 2017 INCO 2011

INCI 2010 INCO 2012

INCI 2011 INCO 2013

INCI 2012 INCO 2014

INCI 2013 INCO 2015

INCI 2014 INCO 2016

INCI 2015 INCO 2017

108

INCI 2016 INTP 2010

INCI 2017 INTP 2011

JECC 2010 INTP 2012

JECC 2011 INTP 2013

JECC 2012 INTP 2014

JECC 2013 INTP 2015

JECC 2014 INTP 2016

JECC 2015 INTP 2017

JECC 2016 ISAT 2010

JECC 2017 ISAT 2011

JKON 2010 ISAT 2012

JKON 2011 ISAT 2013

JKON 2012 ISAT 2014

JKON 2013 ISAT 2015

JKON 2014 ISAT 2016

JKON 2015 ISAT 2017

JKON 2016 ITMG 2010

JKON 2017 ITMG 2011

JPRS 2010 ITMG 2012

JPRS 2011 ITMG 2013

JPRS 2012 ITMG 2014

JPRS 2013 ITMG 2015

JPRS 2014 ITMG 2016

JPRS 2015 ITMG 2017

JPRS 2016 JPFA 2010

JPRS 2017 JPFA 2011

JRPT 2010 JPFA 2012

JTPE 2010 JPFA 2013

JTPE 2011 JPFA 2014

JTPE 2012 JPFA 2015

JTPE 2013 JPFA 2016

JTPE 2014 JPFA 2017

JTPE 2015 JRPT 2011

JTPE 2016 JRPT 2012

JTPE 2017 JRPT 2013

KAEF 2010 JRPT 2014

KAEF 2011 JRPT 2015

KAEF 2012 JRPT 2016

KAEF 2013 JRPT 2017

KAEF 2015 JSMR 2010

KBLM 2010 JSMR 2011

109

KBLM 2011 JSMR 2012

KBLM 2012 JSMR 2013

KBLM 2013 JSMR 2014

KBLM 2014 JSMR 2015

KBLM 2015 JSMR 2016

KBLM 2016 JSMR 2017

KBLM 2017 KAEF 2014

KDSI 2010 KAEF 2016

KDSI 2011 KAEF 2017

KDSI 2012 KIJA 2011

KDSI 2013 KIJA 2012

KDSI 2014 KIJA 2015

KDSI 2015 KIJA 2016

KDSI 2016 KKGI 2010

KDSI 2017 KKGI 2011

KIJA 2010 KKGI 2012

KIJA 2013 KKGI 2013

KIJA 2014 KLBF 2010

KIJA 2017 KLBF 2011

KKGI 2014 KLBF 2012

KKGI 2015 KLBF 2013

KKGI 2016 KLBF 2014

KKGI 2017 KLBF 2015

LION 2010 KLBF 2016

LION 2011 KLBF 2017

LION 2012 LPKR 2010

LION 2013 LPKR 2011

LION 2014 LPKR 2012

LION 2015 LPKR 2013

LION 2016 LPKR 2014

LION 2017 LPKR 2015

LMSH 2010 LPKR 2016

LMSH 2011 LPKR 2017

LMSH 2012 LSIP 2010

LMSH 2013 LSIP 2011

LMSH 2014 LSIP 2012

LMSH 2015 LSIP 2013

LMSH 2016 LSIP 2014

LMSH 2017 LSIP 2015

MAIN 2014 LSIP 2016

MAIN 2015 LSIP 2017

110

MAIN 2016 LTLS 2010

MAIN 2017 LTLS 2011

MERK 2010 LTLS 2012

MERK 2012 LTLS 2013

MERK 2015 LTLS 2014

MERK 2016 LTLS 2015

MERK 2017 LTLS 2016

MICE 2010 LTLS 2017

MICE 2011 MAIN 2010

MICE 2012 MAIN 2011

MICE 2013 MAIN 2012

MICE 2014 MAIN 2013

MICE 2015 MAPI 2010

MICE 2016 MAPI 2011

MICE 2017 MAPI 2012

MPPA 2015 MAPI 2013

MPPA 2016 MAPI 2014

MPPA 2017 MAPI 2015

MRAT 2010 MAPI 2016

MRAT 2011 MAPI 2017

MRAT 2012 MERK 2011

MRAT 2013 MERK 2013

MRAT 2014 MERK 2014

MRAT 2015 MKPI 2010

MRAT 2016 MKPI 2011

MRAT 2017 MKPI 2012

MTDL 2013 MKPI 2013

MTDL 2016 MKPI 2014

MTDL 2017 MKPI 2015

MTSM 2010 MKPI 2016

MTSM 2011 MKPI 2017

MTSM 2012 MLBI 2010

MTSM 2013 MLBI 2011

MTSM 2014 MLBI 2012

MTSM 2015 MLBI 2013

MTSM 2016 MLBI 2014

MTSM 2017 MLBI 2015

NIPS 2010 MLBI 2016

NIPS 2011 MLBI 2017

NIPS 2012 MNCN 2010

NIPS 2013 MNCN 2011

111

NIPS 2014 MNCN 2012

NIPS 2015 MNCN 2013

NIPS 2016 MNCN 2014

NIPS 2017 MNCN 2015

PANR 2010 MNCN 2016

PANR 2011 MNCN 2017

PANR 2012 MPPA 2010

PDES 2010 MPPA 2011

PDES 2011 MPPA 2012

PDES 2012 MPPA 2013

PDES 2013 MPPA 2014

PDES 2014 MTDL 2010

PDES 2015 MTDL 2011

PDES 2016 MTDL 2012

PDES 2017 MTDL 2014

PICO 2010 MTDL 2015

PICO 2011 MYOR 2010

PICO 2012 MYOR 2011

PICO 2013 MYOR 2012

PICO 2014 MYOR 2013

PICO 2015 MYOR 2014

PICO 2016 MYOR 2015

PICO 2017 MYOR 2016

PLIN 2011 MYOR 2017

PLIN 2012 PANR 2013

PLIN 2013 PANR 2014

PLIN 2015 PANR 2015

PTRO 2014 PANR 2016

PTRO 2015 PANR 2017

PTRO 2016 PJAA 2010

PTRO 2017 PJAA 2011

PUDP 2010 PJAA 2012

PUDP 2011 PJAA 2013

PUDP 2012 PJAA 2014

PUDP 2013 PJAA 2015

PUDP 2014 PJAA 2016

PUDP 2015 PJAA 2017

PUDP 2016 PLIN 2010

PUDP 2017 PLIN 2014

PYFA 2010 PLIN 2016

PYFA 2011 PLIN 2017

112

PYFA 2012 PTBA 2010

PYFA 2013 PTBA 2011

PYFA 2014 PTBA 2012

PYFA 2015 PTBA 2013

PYFA 2016 PTBA 2014

PYFA 2017 PTBA 2015

RALS 2014 PTBA 2016

RALS 2015 PTBA 2017

RDTX 2011 PTRO 2010

RDTX 2012 PTRO 2011

RDTX 2017 PTRO 2012

RICY 2011 PTRO 2013

RICY 2012 PWON 2010

RICY 2013 PWON 2011

RICY 2014 PWON 2012

RICY 2015 PWON 2013

RICY 2016 PWON 2014

RICY 2017 PWON 2015

RUIS 2012 PWON 2016

RUIS 2013 PWON 2017

RUIS 2014 RALS 2010

RUIS 2015 RALS 2011

RUIS 2016 RALS 2012

RUIS 2017 RALS 2013

SDPC 2010 RALS 2016

SDPC 2011 RALS 2017

SDPC 2012 RDTX 2010

SDPC 2013 RDTX 2013

SDPC 2014 RDTX 2014

SDPC 2015 RDTX 2015

SDPC 2016 RDTX 2016

SDPC 2017 RICY 2010

SGRO 2013 RUIS 2010

SMCB 2016 RUIS 2011

SMCB 2017 SCMA 2010

SMSM 2010 SCMA 2011

SONA 2010 SCMA 2012

SONA 2011 SCMA 2013

SONA 2012 SCMA 2014

SONA 2013 SCMA 2015

SONA 2014 SCMA 2016

113

SONA 2015 SCMA 2017

SONA 2016 SGRO 2010

SONA 2017 SGRO 2011

SPMA 2010 SGRO 2012

SPMA 2011 SGRO 2014

SPMA 2012 SGRO 2015

SPMA 2013 SGRO 2016

SPMA 2014 SGRO 2017

SPMA 2015 SMAR 2010

SPMA 2016 SMAR 2011

SPMA 2017 SMAR 2012

STTP 2010 SMAR 2013

STTP 2011 SMAR 2014

STTP 2012 SMAR 2015

TCID 2010 SMAR 2016

TCID 2011 SMAR 2017

TCID 2012 SMCB 2010

TCID 2013 SMCB 2011

TCID 2014 SMCB 2012

TCID 2016 SMCB 2013

TCID 2017 SMCB 2014

TGKA 2010 SMCB 2015

TGKA 2011 SMGR 2010

TGKA 2012 SMGR 2011

TGKA 2013 SMGR 2012

TGKA 2014 SMGR 2013

TGKA 2015 SMGR 2014

TGKA 2016 SMGR 2015

TGKA 2017 SMGR 2016

TINS 2015 SMGR 2017

TINS 2016 SMRA 2010

TKIM 2010 SMRA 2011

TKIM 2011 SMRA 2012

TKIM 2012 SMRA 2013

TKIM 2013 SMRA 2014

TKIM 2014 SMRA 2015

TKIM 2015 SMRA 2016

TKIM 2016 SMRA 2017

TKIM 2017 SMSM 2011

TOTL 2010 SMSM 2012

TOTL 2011 SMSM 2013

114

TOTL 2012 SMSM 2014

TOTL 2013 SMSM 2015

TOTL 2014 SMSM 2016

TOTL 2015 SMSM 2017

TOTL 2016 STTP 2013

TOTL 2017 STTP 2014

TOTO 2016 STTP 2015

TOTO 2017 STTP 2016

TRST 2010 STTP 2017

TRST 2011 TBLA 2010

TRST 2012 TBLA 2011

TRST 2013 TBLA 2012

TRST 2014 TBLA 2013

TRST 2015 TBLA 2014

TRST 2016 TBLA 2015

TRST 2017 TBLA 2016

TURI 2014 TBLA 2017

TURI 2015 TCID 2015

ULTJ 2010 TINS 2010

ULTJ 2011 TINS 2011

ULTJ 2014 TINS 2012

UNIT 2010 TINS 2013

UNIT 2011 TINS 2014

UNIT 2012 TINS 2017

UNIT 2013 TLKM 2010

UNIT 2014 TLKM 2011

UNIT 2015 TLKM 2012

UNIT 2016 TLKM 2013

UNIT 2017 TLKM 2014

WIKA 2010 TLKM 2015

BATA 2010 TLKM 2016

BATA 2011 TLKM 2017

BATA 2012 TOTO 2010

BATA 2013 TOTO 2011

BATA 2014 TOTO 2012

BATA 2015 TOTO 2013

BATA 2016 TOTO 2014

BATA 2017 TOTO 2015

BRAM 2010 TSPC 2010

BRAM 2011 TSPC 2011

BRAM 2012 TSPC 2012

115

BRAM 2013 TSPC 2013

BRAM 2014 TSPC 2014

BRAM 2015 TSPC 2015

BRAM 2016 TSPC 2016

BRAM 2017 TSPC 2017

CTBN 2010 TURI 2010

CTBN 2014 TURI 2011

CTBN 2015 TURI 2012

CTBN 2016 TURI 2013

CTBN 2017 TURI 2016

GDYR 2010 TURI 2017

GDYR 2011 ULTJ 2012

GDYR 2012 ULTJ 2013

GDYR 2013 ULTJ 2015

GDYR 2014 ULTJ 2016

GDYR 2015 ULTJ 2017

GDYR 2016 UNTR 2010

GDYR 2017 UNTR 2011

INDR 2010 UNTR 2012

INDR 2011 UNTR 2013

INDR 2012 UNTR 2014

INDR 2013 UNTR 2015

INDR 2014 UNTR 2016

INDR 2015 UNTR 2017

INDR 2016 UNVR 2010

INDR 2017 UNVR 2011

MASA 2010 UNVR 2012

MASA 2011 UNVR 2013

MASA 2012 UNVR 2014

MASA 2013 UNVR 2015

MASA 2014 UNVR 2016

MASA 2015 UNVR 2017

MASA 2016 WIKA 2011

MASA 2017 WIKA 2012

PBRX 2010 WIKA 2013

PBRX 2011 WIKA 2014

PBRX 2012 WIKA 2015

PBRX 2013 WIKA 2016

PBRX 2014 WIKA 2017

PBRX 2015 ADRO 2010

PBRX 2016 ADRO 2011

116

PBRX 2017 ADRO 2012

SMDR 2010 ADRO 2013

SMDR 2011 ADRO 2014

SMDR 2012 ADRO 2015

SMDR 2013 ADRO 2016

SMDR 2014 ADRO 2017

SMDR 2015 CTBN 2011

SMDR 2016 CTBN 2012

SMDR 2017 CTBN 2013

UNIC 2010 PGAS 2010

UNIC 2011 PGAS 2011

UNIC 2012 PGAS 2012

UNIC 2013 PGAS 2013

UNIC 2014 PGAS 2014

UNIC 2015 PGAS 2015

UNIC 2016 PGAS 2016

UNIC 2017 PGAS 2017

MLPL 2011 BMTR 2010

MLPL 2012 BMTR 2011

MLPL 2015 BMTR 2012

MLPL 2017 BMTR 2013

PLAS 2010 BMTR 2014

PLAS 2011 BMTR 2015

PLAS 2012 BMTR 2016

PLAS 2013 BMTR 2017

PLAS 2014 MLPL 2010

PLAS 2015 MLPL 2013

PLAS 2016 MLPL 2014

PLAS 2017 MLPL 2016

117

Lampiran 8: Tabel Data Deskriptif

Statistik deskriptif seluruh perusahaan sampel penelitian

CAPEX CF EXTFIN FIN_CONST SPREAD

Mean 0.060107 0.132788 0.015846 4.83E-15 2.106548

Median 0.040787 0.108000 0.000000 0.104719 0.694093

Maximum 0.622723 1.346650 0.731067 2.968573 31.57895

Minimum 0.000000 -0.216075 -0.515799 -3.914985 -42.24751

Std. Dev. 0.063345 0.114716 0.079882 1.171373 3.929512

Skewness 2.456141 3.025557 2.209064 -0.379419 0.981476

Kurtosis 13.23954 22.92076 18.93957 3.032955 26.10190

Jarque-Bera 5976.009 20083.30 12676.32 26.73061 24906.54

Probability 0.000000 0.000000 0.000000 0.000002 0.000000

Sum 66.83867 147.6605 17.62060 5.30E-12 2342.482

Sum Sq. Dev. 4.457974 14.62037 7.089456 1524.420 17155.02

Observations 1112 1112 1112 1112 1112

Statistik deskriptif financial constraints

CAPEX CF EXTFIN FIN_CONST SPREAD

Mean 0.046706 0.087499 0.006253 0.922063 2.923214

Median 0.028139 0.079322 0.000000 0.819610 1.290254

Maximum 0.456276 0.515552 0.474372 2.968573 31.57895

Minimum 0.000000 -0.216075 -0.515799 0.104769 -42.24751

Std. Dev. 0.057444 0.065249 0.071008 0.595793 4.693047

Skewness 2.730490 1.058291 1.113351 0.947305 -0.150161

Kurtosis 13.13312 9.492446 16.89433 3.596867 22.61411

Jarque-Bera 3069.640 1080.303 4587.247 91.41092 8914.617

Probability 0.000000 0.000000 0.000000 0.000000 0.000000

Sum 25.96855 48.64934 3.476857 512.6673 1625.307

Sum Sq. Dev. 1.831372 2.362871 2.798423 197.0081 12223.70

Observations 556 556 556 556 556

118

Statistik deskriptif financial unconstraints

CAPEX CF EXTFIN FIN_CONST SPREAD

Mean 0.073507 0.178078 0.025438 -0.922063 1.289883

Median 0.058503 0.143084 0.000000 -0.795847 0.453724

Maximum 0.622723 1.346650 0.731067 0.104669 24.75884

Minimum 0.000524 -0.027899 -0.299380 -3.914985 -4.032258

Std. Dev. 0.066127 0.134074 0.086875 0.829619 2.747538

Skewness 2.384581 2.899298 2.721459 -0.873637 4.787040

Kurtosis 13.93877 19.44909 18.52974 3.428868 30.80220

Jarque-Bera 3298.968 7047.213 6273.493 74.98799 20030.49

Probability 0.000000 0.000000 0.000000 0.000000 0.000000

Sum 40.87012 99.01115 14.14375 -512.6673 717.1747

Sum Sq. Dev. 2.426911 9.976642 4.188711 381.9881 4189.675

Observations 556 556 556 556 556

119

Lampiran 9: Hasil Chow Test

Hasil Chow Test Persamaan 1

Redundant Fixed Effects Tests

Equation: Untitled

Test cross-section fixed effects Effects Test Statistic d.f. Prob. Cross-section F 4.272123 (138,972) 0.0000

Cross-section Chi-square 527.177289 138 0.0000

Hasil Chow Test Persamaan 2a

Redundant Fixed Effects Tests

Equation: Untitled

Test cross-section fixed effects Effects Test Statistic d.f. Prob. Cross-section F 3.232645 (93,461) 0.0000

Cross-section Chi-square 279.151302 93 0.0000

Hasil Chow Test Persamaan 2b

Redundant Fixed Effects Tests

Equation: Untitled

Test cross-section fixed effects Effects Test Statistic d.f. Prob. Cross-section F 6.299243 (86,468) 0.0000

Cross-section Chi-square 427.549970 86 0.0000

Hasil Chow Test Persamaan 3

Redundant Fixed Effects Tests

Equation: Untitled

Test cross-section fixed effects Effects Test Statistic d.f. Prob. Cross-section F 4.201699 (138,970) 0.0000

Cross-section Chi-square 521.091399 138 0.0000

120

Hasil Chow Test Persamaan 4

Redundant Fixed Effects Tests

Equation: Untitled

Test cross-section fixed effects Effects Test Statistic d.f. Prob. Cross-section F 4.502107 (138,970) 0.0000

Cross-section Chi-square 550.445181 138 0.0000

Lampiran 10: Hasil Hausman Test

121

Hasil Hausman Test Persamaan 1

Correlated Random Effects - Hausman Test

Equation: Untitled

Test cross-section random effects

Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob.

Cross-section random 3.029201 1 0.0818

Hasil Hausman Test Persamaan 2a

Correlated Random Effects - Hausman Test

Equation: Untitled

Test cross-section random effects

Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob.

Cross-section random 0.731701 1 0.3923

Hasil Hausman Test Persamaan 2b

Correlated Random Effects - Hausman Test

Equation: Untitled

Test cross-section random effects

Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob.

Cross-section random 1.029575 1 0.3103

Hasil Hausman Test Persamaan 3

Correlated Random Effects - Hausman Test

Equation: Untitled

Test cross-section random effects

Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob.

Cross-section random 1.927532 3 0.5876

Hasil Hausman Test Persamaan 4

Correlated Random Effects - Hausman Test

122

Equation: Untitled

Test cross-section random effects

Test Summary Chi-Sq. Statistic Chi-Sq. d.f. Prob.

Cross-section random 4.174181 3 0.2433

123

Lampiran 11: Hasil Regresi Random Effect Model

Hasil Regresi Random Effect Model Persamaan 1

Dependent Variable: CAPEX

Method: Panel EGLS (Cross-section random effects)

Date: 12/13/18 Time: 09:28

Sample: 2010 2017

Periods included: 8

Cross-sections included: 139

Total panel (balanced) observations: 1112

Swamy and Arora estimator of component variances Variable Coefficient Std. Error t-Statistic Prob. C 0.039166 0.003926 9.976045 0.0000

CF 0.157704 0.017947 8.787077 0.0000 Effects Specification

S.D. Rho Cross-section random 0.032168 0.2890

Idiosyncratic random 0.050451 0.7110 Weighted Statistics R-squared 0.064926 Mean dependent var 0.029148

Adjusted R-squared 0.064084 S.D. dependent var 0.052197

S.E. of regression 0.050497 Sum squared resid 2.830423

F-statistic 77.07183 Durbin-Watson stat 1.639740

Prob(F-statistic) 0.000000 Unweighted Statistics R-squared 0.106523 Mean dependent var 0.060107

Sum squared resid 3.983097 Durbin-Watson stat 1.165213

124

Hasil Regresi Random Effect Model Persamaan 2a

Dependent Variable: CAPEX

Method: Panel EGLS (Cross-section random effects)

Date: 12/13/18 Time: 09:30

Sample: 2010 2017

Periods included: 8

Cross-sections included: 94

Total panel (unbalanced) observations: 556

Swamy and Arora estimator of component variances Variable Coefficient Std. Error t-Statistic Prob. C 0.028508 0.005128 5.559279 0.0000

CF 0.226762 0.038834 5.839321 0.0000 Effects Specification

S.D. Rho Cross-section random 0.029114 0.2765

Idiosyncratic random 0.047094 0.7235 Weighted Statistics R-squared 0.056335 Mean dependent var 0.025249

Adjusted R-squared 0.054632 S.D. dependent var 0.049668

S.E. of regression 0.047818 Sum squared resid 1.266769

F-statistic 33.07299 Durbin-Watson stat 1.726710

Prob(F-statistic) 0.000000 Unweighted Statistics R-squared 0.076363 Mean dependent var 0.046706

Sum squared resid 1.691523 Durbin-Watson stat 1.293121

125

Hasil Regresi Random Effect Model Persamaan 2b

Dependent Variable: CAPEX

Method: Panel EGLS (Cross-section random effects)

Date: 12/13/18 Time: 09:31

Sample: 2010 2017

Periods included: 8

Cross-sections included: 87

Total panel (unbalanced) observations: 556

Swamy and Arora estimator of component variances Variable Coefficient Std. Error t-Statistic Prob. C 0.055600 0.006393 8.697446 0.0000

CF 0.110110 0.021438 5.136235 0.0000 Effects Specification

S.D. Rho Cross-section random 0.042913 0.4548

Idiosyncratic random 0.046988 0.5452 Weighted Statistics R-squared 0.043594 Mean dependent var 0.028805

Adjusted R-squared 0.041867 S.D. dependent var 0.049505

S.E. of regression 0.048027 Sum squared resid 1.277836

F-statistic 25.25178 Durbin-Watson stat 1.515751

Prob(F-statistic) 0.000001 Unweighted Statistics R-squared 0.076895 Mean dependent var 0.073507

Sum squared resid 2.240293 Durbin-Watson stat 0.864566

126

Hasil Regresi Random Effect Model Persamaan 3

Dependent Variable: CAPEX

Method: Panel EGLS (Cross-section random effects)

Date: 12/13/18 Time: 21:55

Sample: 2010 2017

Periods included: 8

Cross-sections included: 139

Total panel (balanced) observations: 1112

Swamy and Arora estimator of component variances Variable Coefficient Std. Error t-Statistic Prob. C 0.051357 0.005440 9.440653 0.0000

CF 0.119802 0.020923 5.725847 0.0000

FC="1" -0.024835 0.007123 -3.486626 0.0005

CF*(FC="1") 0.120211 0.044607 2.694891 0.0071 Effects Specification

S.D. Rho Cross-section random 0.032104 0.2896

Idiosyncratic random 0.050283 0.7104 Weighted Statistics R-squared 0.075127 Mean dependent var 0.029118

Adjusted R-squared 0.072623 S.D. dependent var 0.052189

S.E. of regression 0.050258 Sum squared resid 2.798714

F-statistic 30.00066 Durbin-Watson stat 1.637321

Prob(F-statistic) 0.000000 Unweighted Statistics R-squared 0.119842 Mean dependent var 0.060107

Sum squared resid 3.923720 Durbin-Watson stat 1.167870

127

Hasil Regresi Random Effect Model Persamaan 4

Dependent Variable: CAPEX

Method: Panel EGLS (Cross-section random effects)

Date: 12/13/18 Time: 09:36

Sample: 2010 2017

Periods included: 8

Cross-sections included: 139

Total panel (balanced) observations: 1112

Swamy and Arora estimator of component variances Variable Coefficient Std. Error t-Statistic Prob. C 0.029010 0.004755 6.100997 0.0000

CF 0.110513 0.022697 4.869079 0.0000

EXTFIN="1" 0.014584 0.005293 2.755231 0.0060

CF*(EXTFIN="1") 0.101594 0.031024 3.274642 0.0011 Effects Specification

S.D. Rho Cross-section random 0.032299 0.3049

Idiosyncratic random 0.048773 0.6951 Weighted Statistics R-squared 0.121060 Mean dependent var 0.028308

Adjusted R-squared 0.118680 S.D. dependent var 0.051981

S.E. of regression 0.048799 Sum squared resid 2.638557

F-statistic 50.86979 Durbin-Watson stat 1.686101

Prob(F-statistic) 0.000000 Unweighted Statistics R-squared 0.148734 Mean dependent var 0.060107

Sum squared resid 3.794924 Durbin-Watson stat 1.172322