This document discusses a study examining the effect of other comprehensive income on cost of equity capital for manufacturing companies listed on the Indonesian Stock Exchange from 2011-2013. Other comprehensive income is reported under IFRS and reflects differences between fair value and historical value. The study hypothesizes that reporting other comprehensive income will negatively affect cost of equity capital by increasing the relevance of financial statements and reducing information risk/asymmetry for investors. Cost of equity is measured using the Ohlson model. The results of the study showed reporting other comprehensive income is associated with lower cost of equity capital, indicating it increases relevance and reduces information risk/cost for investors.

1. EFFECT OF OTHER COMPREHENSIVE INCOME
ON COST OF EQUITY CAPITAL
(EVIDENCE FROM INDONESIA)1
Alex Johanes Simamora
(alexjohanessimamora@gmail.com)
ABSTRACT
In Indonesia, convergence of IFRS has given change on presentation of
financial statement, especially in income statement. According to Statement of
Financial Accounting Standard no. 1 (Pernyataan Standar Akuntansi Keuangan no. 1)
that has been converge to IFRS, other comprehensive income stated in income
statement. Other comprehensive income is differences between fair value and
historical value. Other comprehensive income is a result of the use of fair value, one
of IFRS principles.
The use of fair value will increase financial statement relevance. The more
relevant information of financial statement, the less information risk will be taken by
investor. Less information risk makes cost of equity will be decreased, because of
expected return decreasing by investor.
This research is aimed to examine effect of statement of other comprehensive
income on cost of equity capital. Samples of this research are manufacture companies
listed in Indonesian Stock Exchange (Bursa Efek Indonesia) from year 2011-2013.
Cost of equity capital is measured by Ohlson Model.
The results of this research shows that other comprehensive income affect cost
of equity capital negatively. It indicates that other comprehensive income increase
financial statement relevance, reduce information risk and decrease cost of equity
capital.
Keywords: Other Comprehensive Income, Cost of Equity Capital, Ohlson Model,
IFRS (International Financial Reporting Standard)
INTRODUCTION
Accounting is essentially the picture of economic transactions translated into
accounting data as financial statement (De Franco, Kothari and Verdi, 2011). Analysts
believe that high quality financial statement could show current performance to
evaluate past performance and to forecast future performance of the companies (De
Franco, Kothari and Verdi, 2011). International Financial Reporting Standard (IFRS)
is a set of standard issued by International Accounting Standard Board (IASB) to
decrease lag between economic performance and accounting performance. IFRS will
increase role of global capital market by providing comparable and high quality
information to investors (Barth, 2008). One of IFRS principles is fair value. The use
of fair value can show current condition of companies and make investors get
information with low cost.
1 This paper was presented in “3rd GADJAH MADA INTERNATIONAL CONFERENCE ON ECONOMICS
AND BUSINESS” November 27th,2015; University Club,Gadjah Mada University,Yogykarta.

2. Indonesian Accountant Institute (Ikatan Akuntan Indonesia or IAI) is
beginning convergence of IFRS since 2008. Convergence of IFRS is commitment of
Ikatan Akuntan Indonesia as a member of International Federation of Accountants
(IFAC). In 2009, Statement of Financial Accounting Standard no. 1 (Pernyataan
Standar Akuntansi Keuangan or PSAK no. 1), about presentation of financial
statements, has been converged to IFRS. According to the use of fair value, other
comprehensive income is stated in income statement. Other comprehensive income
contains of changes due to the use of fair value. Components of other comprehensive
income are unrealized income (Pratiwi, Indriani and Midiastuty, 2012). Components
of other comprehensive income consists of:
“(1) Changes in revaluation surplus of fixed assets and intangible
assets, accordance to Pernyataan Standar Akuntansi Keuangan no. 16
about fixed assets and Pernyataan Standar Akuntansi Keuangan no. 19
about intangible assets. (2) Actuarial gains and losses on defined
benefit plans, accordance to Pernyataan Standar Akutansi Keuangan
no. 24 about employee benefits. (3) Gains and losses arising from
translation of financial statements of foreign companies, accordance to
Pernyataan Standar Akuntansi Keuangan no. 10 about effect of change
in foreign exchange rate. (4) Gains and losses from re-measurement of
financial assets categorized as "available for sale", accordance to
Pernyataan Standar Akuntansi Keuangan no. 55 about recognition and
measurement of financial instruments. (5) The effective portion of
gains and losses of hedging instruments in order to hedge cash flows,
accordance to Pernyataan Standar Akuntansi Keuangan no. 55 on
recognition and measurement of financial instruments” (Indonesia,
Ikatan Akuntan Indonesia, 2009, paragraph 5).
Components of other comprehensive income show changes over the use of the
fair value of assets and liabilities by the company. The use of fair value is more
relevant in decision making than the historical value. Lin, Ramond and Casta (2007)
stated that other comprehenive income have value relevance and affect stock price.
Pratiwi, Indriani and Midiastuty (2012) also stated that other comprehensive income
affect stock return.
The use of fair value will show current condition of company. It will increase
relevance of financial statement and decrease information risk (information
asymetric) in decision making, especially by investors. It also make investors will get
information about current value of companies with low cost. Decreasing of
information risk and cost will decrease expected return by investor. Low expected
return means company will pay low cost of equity capital. Value relevance can reduce
cost of equity capital (Francis et al., 2004). In Indonesia, other comprehensive income
is a new thing in financial reporting. Motivation of this research is to explore the
explanatory power of other comprehensive income, especially in determining cost of
equity capital.
There are some previous research have examined about effect of IFRS on cost
of equity capital. Merino, Plans and Guerrero (2014) stated that mandatory IFRS
adoption in Spain have decrased cost of equity capital. Patro and Gupta (2014) stated
that decreasing cost of equity capital happens in Hongkong and Phillipine after IFRS
adoption. This research will examined if statement of other comprehensive income

3. statement as a form of fair value implementation (one of IFRS principles) will reduce
cost of equity capital.
RESEARCH PROBLEM
Is statement of other comprehensive income affect cost of equity capital
negatively?
FAIR VALUE
One of IFRS principles is fair value concept. Fair value concept allows
companies to measure asset or liability that has been adjusted to the current
circumstances. Fair value is market based measurement –estimated price of orderly
transaction to sell assets or to shift liabilities between market participants at
measurement date in current condition (Indonesia, Ikatan Akuntan Indonesia, 2013,
paragraph 2).
“Fair values reflect the most current and complete expectation and estimation
of the value of assets or liabilities, including the amounts, timing, and riskiness of the
future cash flows attributable to assets or liabilities” (USA, CFA Institute, 2010, p.2).
The advantage of using fair value is presentation of fair value, as the most relevant
information, shows real economic activity measurement (USA, CFA Institute 2010).
More relevant financial statement information, less cost of equity capital paid by
companies (Francis et al., 2004).
OTHER COMPREHENSIVE INCOME
Indonesian Accountant Institute (Ikatan Akuntan Indonesia or IAI) is
beginning convergence of IFRS since 2008. It means that fair value have been applied
in Statement of Financial Accounting Standards (Pernyataan Standar Akuntansi
Keuangan or PSAK). One of forms of the use of fair value is other comprehensive
income statement. Components of other comprehensive income show changes over
the use of the fair value of assets and liabilities by the company.
In 2009, Statement of Financial Accounting Standard no. 1 (Pernyataan
Standar Akuntansi Keuangan or PSAK no. 1), about presentation of financial
statements, has been converged to IFRS. According to the use of fair value, other
comprehensive income is stated in income statement. Other comprehensive income
contains of changes due to the use of fair value. Components of other comprehensive
income are unrealized income (Pratiwi, Indriani and Midiastuty, 2012). Components
of other comprehensive income consists of:
“(1) Changes in revaluation surplus of fixed assets and intangible
assets, accordance to Pernyataan Standar Akuntansi Keuangan no. 16
about fixed assets and Pernyataan Standar Akuntansi Keuangan no. 19
about intangible assets. (2) Actuarial gains and losses on defined
benefit plans, accordance to Pernyataan Standar Akutansi Keuangan
no. 24 about employee benefits. (3) Gains and losses arising from
translation of financial statements of foreign companies, accordance to
Pernyataan Standar Akuntansi Keuangan no. 10 about effect of change
in foreign exchange rate. (4) Gains and losses from re-measurement of
financial assets categorized as "available for sale", accordance to
Pernyataan Standar Akuntansi Keuangan no. 55 about recognition and
measurement of financial instruments. (5) The effective portion of
gains and losses of hedging instruments in order to hedge cash flows,

4. accordance to Pernyataan Standar Akuntansi Keuangan no. 55 on
recognition and measurement of financial instruments” (Indonesia,
Ikatan Akuntan Indonesia, 2009, paragraph 5).
Components of other comprehensive income are unrealized income (Pratiwi, Indriani
and Midiastuty, 2012).
COST OF EQUITY CAPITAL
Cost of equity capital is cost charged by investors or shareholders, as equity
owner, because company will use their equity as fund to do business activity. The cost
is charged as rate of return expected by investors.
There are some models to measure expected return as cost of equity capital,
like Capital Assets Pricing Model (CAPM), Single Index Model (SIM), and Ohlson
Model. CAPM measure expected return from stock market activity, showed by rate of
free risk and market return as the components to calculate stock return. SIM measure
expected return also from market activity with company factors consideration,
showed by individu return and market return as the components to calculate stock
return. Ohlson Model measure expected return with spesific financial statement
factor; which is book value of equity, forcasted earnings per share in subsequent year
and market price. This research will use Ohlson Model to measure cost of equity
capital, because this research will examined one of financial statement information to
predict cost of equity capital.
HYPOTHESES DEVELOPMENT AND PREVIOUS RESEARCH
Statament of other comprehensive income shows the differences between fair
value and historical value, as an impact of the use of fair value in measuring assets
and liabilities. “Fair values reflect the most current and complete expectation and
estimation of the value of assets or liabilities, including the amounts, timing, and
riskiness of the future cash flows attributable to assets or liabilities” (USA, CFA
Institute, 2010, p.2). The use of fair value, as the most relevant information, shows
real economic activity measurement (USA, CFA Institute, 2010). Lin, Ramond and
Casta (2007); Pratiwi, Indriani and Midiastuty (2012) stated that other comprehensive
income have value relevance and affect stock price and return.
Value relevance can reduce cost of equity capital (Francis et al. 2004). The
more relevant financial statement, the less information risk (information asymetric) in
decision making, especially by investors. It also make investors get current value of
companies less cost. Decreasing of information risk and cost will decrease expected
return by investor (low risk makes low return). Low expected return means company
will pay low cost of equity capital. Companies that stated other comprehensive
income will pay low cost of equity capital.
There are some previous researchs explain relationship between other
comprehensive income, value relevance, fair value and cost of equity capital.
table 1
previous researchs
Reasercher Research Title Result
Lin, Ramond
and Casta
(2007)
Value Relevance of Comprehensive
Income and Its Components:
Evidence from Major European
Capital Markets
Other comprehensive
income affect stock price.
Pratiwi, Indriani Relevansi Nilai Informasi Laporan Other comprehensive

5. and Midiastuty
(2012)
Keuangan Dan Komponen Laba
Rugi Komprehensif Dalam
Menjelaskan Harga Dan Return
Saham
income affect stock return.
Francis et al.
(2004)
Costs of Equity and Earnings
Attributes
Value relevance reduce
cost of equity capital
Merino, Plans
and Guerrero
(2014)
Mandatory IFRS Adoption and The
Cost of Equity Capital: Evidence
from Spanish Firms
Mandatory IFRS adoption
in Spain have decrased cost
of equity capital
Patro and Gupta
(2014)
Impact of International Financial
Reporting Standards on Cost of
Equity Capital for Asian Countries
decrasing cost of equity
capital happens in
Hongkong and Phillipine
after IFRS adoption
Source: previous researchs
Based on above explaination and previous research, hypotheses in this
research is:
Ha: Statement of other comprehensive income affect cost of equity capital negatively
RESEARCH SAMPLE
This research will use purposive sampling to determine sample with some
criteria, which is:
a. Manufacture companies listed in Indonesian Stock Exchange (IDX) from year
2011 to 2014. Choosing of manufacture industry because different industry
gives different explanatory ability of accounting information which is resulted
by different business activity.
b. Companies issue financial statement in IDR
c. Companies have positive equity value. Negative equity value means
companies have insolvency problem.
table 2
research sample
Criteria
Manufacture companies listed in IDX from year 2011 to 2014
Companies issue financial statement not in IDR
Companies have negative equity value
Data is not complete
136
(27)
(6)
(3)
Number of companies 100
Number of observation (2011-2013)
Outliers
300
(64)
Total 236
RESEARCH VARIABLES AND MEASUREMENT
Dependent variable in this research is cost of equity capital, measured with
Ohlson model.
𝑟𝑡 =
𝐵𝑉𝐸𝑡 + 𝐸𝑃𝑆𝑡+1 − 𝑃𝑡
𝑃𝑡
where,
𝐵𝑉𝐸𝑡 =
𝑇𝑜𝑡𝑎𝑙 𝐸𝑞𝑢𝑖𝑡𝑦𝑡
𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒𝑡

6. 𝐸𝑃𝑆𝑡+1 =
𝑁𝑒𝑡 𝐼𝑛𝑐𝑜𝑚𝑒 𝑡+1
𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒𝑡+1
𝑟𝑡
𝐵𝑉𝐸𝑡
𝐸𝑃𝑆𝑡+1
𝑃𝑡
=
=
=
=
Cost of equity capital period t
Book value of equity period t
Earnings per share period t
Stock price on publication date of financial statement period t
Independent variable in this research is statement of other comprehensive income,
value 1 if company state it, 0 otherwise.
Control variables in this research is other comprehensive income per share and
delay of financial statement publication. Lin, Ramond and Casta (2007); Pratiwi,
Indriani and Midiastuty (2012) stated that other comprehensive income have value
relevance and affect stock price and return. It means that other comprehensive income
have explanatory ability to affect stock investment decision making and also can
predict cost of equity capital. Other comprehensive income per share calculated from:
𝑂𝑃𝑆𝑡 =
𝑂𝐶𝐼𝑡
𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒 𝑡
𝑂𝑃𝑆𝑡
𝑂𝐶𝐼𝑡
=
=
Other comprehensive income per share period t
Other comprehensive income period t
Earlier financial statement publication will reduce cost of equity capital.
Onwuchekwa (2013) stated that reporting delay will reduce quality of information and
make investors get information costly. The earlier financial report issued to public, the
earlier other comprehensive income information known by investors, and the lower
cost of equity capital. Delay of financial repo will be calculated from days publication
delay of financial statement, which is:
𝐷𝑒𝑙𝑎𝑦𝑡 = 𝐷𝑎𝑡𝑒 𝑜𝑓 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑆𝑡𝑎𝑡𝑒𝑚𝑒𝑛𝑡 𝑃𝑒𝑟𝑖𝑜𝑑𝑡
− 𝐷𝑎𝑡𝑒 𝑜𝑓 𝐹𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑆𝑡𝑎𝑡𝑒𝑚𝑒𝑛𝑡 𝑃𝑢𝑏𝑙𝑖𝑐𝑎𝑡𝑖𝑜𝑛
𝐷𝑒𝑙𝑎𝑦𝑡 = Publication delay of financial statement of period t
ANALYTICAL METHOD
This research will use multiple regression to test the hypotheses. This research
also will use classical assumptions test to make sure that regression model is valid.
The regression model is:
𝐶𝑂𝐸𝐶 = 𝛼 + 𝛽1 𝑂𝐶𝐼 + 𝛽2 𝑂𝑃𝑆 + 𝛽3 𝐷𝐸𝐿𝐴𝑌
where:
COEC
OCI
OPS
DELAY
=
=
=
=
Cost of equity capital
Statement of other comprehensive income
Other comprehensive income per share
Delay of financial statement
Ha accepted if significance value below 0.05 and 𝛽1 have negative value.

7. RESULTS
table 3
classical assumption test
Tests Tools Result Notes
Normality K-S test Sig. = 0.000 Distribution is not normal
Normality (after trimming) K-S test Sig. = 0.056 Distribution is normal
Heterocedasticity Glejser
test
Sig. above 0.05 Free of heterocedasticity
problem
Autocorellation DW test DW = 1.973 Free of autocorellation
problem
Multicollinearitas VIF test VIF below 10,
tolerance above
0.5
Free of multicollinearitas
problem
Source: SPSS output
Based on classical assumption test, this research is free from normality,
heterocedasticity, autocorellation, and multicollinearity problem.
table 4
hypotheses test
Variables Coefficient t Significance Notes
Constant
OCI
OPS
DELAY
-1.658
-0.186
0.001
0.021
-2.107
2.262
5.505
0.036
0.025
0.000
Ha Accepted
Dependent Variable
F Sig.
R2
= Cost of Equity Capital
= 0.000
= 0.150
(Source: SPSS output)
Regression model of this research is:
𝐶𝑂𝐸𝐶 = −1.685 − 0.186𝑂𝐶𝐼 + 0.001𝑂𝑃𝑆 + 0.021𝐷𝐸𝐿𝐴𝑌
where:
COEC
OCI
OPS
DELAY
=
=
=
=
Cost of equity capital
Statement of other comprehensive income
Other comprehensive income per share
Days of reporting delay
DISCUSSION
Statement of other comprehensive income have regression coefficient value -
0.186, t value -2.107, significance value 0.036 (below 0.05). Hypotheses in this
research accepted. Other comprehensive income statement reduce cost of equity
capital. This result indicates that other comprehensive income have value relevance
(Lin, Ramond and Casta, 2007; Pratiwi, Indriani and Midiastuty, 2012), have low
information risk and cost, and decrease cost of equity capital.
Statament of other comprehensive income shows the differences between fair
value and historical value, as an impact of the use of fair value in measuring assets
and liabilities. “Fair values reflect the most current and complete expectation and
estimation of the value of assets or liabilities, including the amounts, timing, and
riskiness of the future cash flows attributable to assets or liabilities” (USA, CFA

8. Institute, 2010, p.2). The use of fair value, as the most relevant information, shows
real economic activity measurement (USA, CFA Institute, 2010). Lin, Ramond and
Casta (2007); Pratiwi, Indriani and Midiastuty (2012) stated that other comprehensive
income have value relevance and affect stock price and return.
Value relevance can reduce cost of equity capital (Francis et al. 2004). The
more relevant financial statement, the less information risk (information asymmetric)
in decision making, especially by investors. It also make investors get current value of
companies less cost. Decreasing of information risk and cost will decrease expected
return by investor (low risk makes low return). Low expected return means company
will pay low cost of equity capital. Companies that stated other comprehensive
income will pay low cost of equity capital.
For example, company A stated other comprehensive income with surplus of
fixed assets revaluation as the component, company B did not. Company B will pay
more cost of equity capital than company A. Investor doesn’t know how much the
current value of company B’s fixed assets because there is no stament of other
comprehensive income. That asymetric information in company B make investor
charge high expected return, because of high information risk. Investor also will pay
more cost to make that asymetric information more allign.
CONCLUSION
Based on results, the conclusion of this research is other comprehensive
income affect cost of equity capital negatively. It indicates other comprehensive
income as a impact of the use of fair value reduce information risk (information
asymetric) and help investors get information with low cost.
This research have limitations. First, this research did not considered each
component ability of other comprehensive income that can reduce cost of equity
capital. Second, this research only used manufacture companies as sample, so the
result can’t be generalized to all industries in population.
Advices for similar subsequent research are (1) using consideration about each
component ability of other comprehensive income that can reduce cost of equity
capital; (2) use another industry, beside manufacture, as research sample; (3) as a new
information in Indonesia, other comprehensive income can be tested with another
variables, for example asymetric information, forecasting future performance, value
relevance in stock or bond market, etc.
REFERENCES
BARTH, M. E. (2008) Global Financing Reporting: Implication for US Academics.
The Accounting Review. 83 (5). p. 1159-1179.
DE FRANCO, G., KOTHARI, S. P. and VERDI, R. S. (2011) The Benefits of
Financial Statement Comparability. Journal of Accounting Research. 49 (4). p. 895-
931.
FRANCIS, J., LAFOND, R., OLSSON, P. and SCHIPPER, K. (2004) Costs of Equity
and Earnings Attributes. The Accounting Review. 79 (4). p. 967-1010.
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keuangan no. 1: Penyajian laporan keuangan. Jakarta: IAI.

9. INDONESIA. Ikatan Akuntan Indonesia. (2013) Pernyataan standar akuntansi
keuangan no. 68: Pengukuran nilai wajar. Jakarta: IAI.
LIN, S. W., RAMOND O. J. and CASTA J. F. (2007) Value relevance of
comprehensive income and its components: Evidence from major European capital
markets. in Europlace Institute of Finance Project: On the Relevance of Reporting
Comprehensive Income under IAS / IFRS. 5th International Financial Research
Forum. Paris, February 2007. Paris: EIF.
MERINO, D. C., PLANS, C. M., and GUERRERO, N. O. (2014) Mandatory IFRS
Adoption and the Cost of Equity Capital: Evidence from Spanish Firms. Intangible
Capital. 10 (3). p. 562-583.
ONWUCHEKWA, J. C. (2013) An Examination of the Audit Report Lag of
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PATRO, A. and GUPTA, V. K. (2014) Impact of International Financial Reporting
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PRATIWI, E., INDRIANI, R. and MIDIASTUTY, P. P. (2012) Relevansi nilai
informasi laporan keuangan dan komponen laba rugi komprehensif dalam
menjelaskan harga dan return saham. in Prosiding Call For Paper & Seminar
Nasional: Etika Bisnis: Kebutuhan atau Kewajiban?. Bandung, Friday 14th
December 2012. Bandung: LPLA FPEB UPI. pp. 270-287
USA. CFA Institute. (2010) Supplement of comment letter to the FASB proposed
accounting for financial instruments and revisions to the accounting for derivative
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basis for financial instruments. Charlottesville-Virginia: CFA Institute.

10. ATTACHMENT
DESCRIPTIVE STATISTICS OUTPUT
Descriptive Statistics
N Minimum Maximum Mean Std. Deviation
COEC 300 -1.50 86.48 .4963 5.82796
OCI 300 .00 1.00 .4400 .49722
OPS 300 -621.63 1289.70 16.1190 114.43522
TIMELINESS 300 55.00 151.00 86.8667 13.42646
Valid N (listwise) 300
NORMALITY TEST BEFORE TRIMMING OUTPUT
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N 300
Normal Parametersa,b Mean 0E-7
Std. Deviation 5.73214172
Most Extreme Differences
Absolute .351
Positive .351
Negative -.310
Kolmogorov-SmirnovZ 6.083
Asymp. Sig. (2-tailed) .000
a. Test distribution is Normal.
b. Calculated from data.
NORMALITY TEST AFTER TRIMMING (N=236) OUTPUT
One-Sample Kolmogorov-Smirnov Test
Unstandardized
Residual
N 236
Normal Parametersa,b Mean -.3153486
Std. Deviation .92724310
Most Extreme Differences
Absolute .087
Positive .087
Negative -.081
Kolmogorov-SmirnovZ 1.338
Asymp. Sig. (2-tailed) .056
a. Test distribution is Normal.
b. Calculated from data.
HETEROCEDASTICITY TEST OUTPUT
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1
(Constant) .661 .264 2.501 .013
OCI -.107 .071 -.100 -1.508 .133
OPS .000 .000 -.042 -.632 .528
TIMELINESS .003 .003 .056 .850 .396
a. DependentVariable:ABRES

11. MULTIOCOLLINEARITY, AUTOCORELLATION, REGRESSION TEST
OUTPUT
Model Summaryb
Model R R Square Adjusted R
Square
Std. Error of the
Estimate
Durbin-Watson
1 .390a
.152 .141 .66382 1.973
a. Predictors:(Constant), TIMELINESS, OPS, OCI
b. DependentVariable:COEC
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1
Regression 18.371 3 6.124 13.897 .000b
Residual 102.233 232 .441
Total 120.604 235
a. DependentVariable:COEC
b. Predictors:(Constant), TIMELINESS, OPS, OCI
Coefficientsa
Model Unstandardized
Coefficients
Standardized
Coefficients
t Sig. Collinearity
Statistics
B Std. Error Beta Tolerance VIF
1
(Constant) -1.658 .329 -5.039 .000
OCI -.186 .088 -.130 -2.107 .036 .968 1.034
OPS .001 .000 .138 2.262 .025 .978 1.022
TIMELINESS .021 .004 .335 5.505 .000 .988 1.012
a. DependentVariable:COEC