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Vertical integration and the must carry rules in the cable television industry: An empirical analysis
Unformatted Document Text:  Must carry rules 32 Table 3 Results of Logit Regressions (Regression coefficient with Wald chi-square statistics in parenthesis) Dep. Var.: DROP, N=2,588 Model I Model II Model III Model IV INTERCEPT -1.600** -1.569** -1.505** -1.624** ( 4.789) (4.606) (4.214) (4.788) VI_N -0.057*** -0.057*** -0.056*** ( 8.049) ( 8.107) (7.720) VI_TOT -0.041*** ( 7.031) LNSUB 0.093** 0.088** 0.093** 0.096** ( 5.190) (4.713) (5.252) (5.556) SYSSHARE -3.308 ( 1.175) SYSPENE -1.214** -1.203** -1.154** -1.138** ( 5.265) (5.176) (4.779) (4.653) CAP -0.028*** -0.028*** -0.028*** -0.027*** ( 12.863) (12.646) (13.080) (11.727) MILE -0.000 -0.000 -0.000 -0.000 ( 0.600) (0.598) (0.630) (0.187) AGE_C 0.028*** 0.028*** 0.028*** 0.030*** ( 7.771) (7.628) (7.257) (8.150) SHARE_C -0.006 -0.006 -0.007 -0.006 ( 0.347) (0.339) (0.416) (0.263) OTA_A 0.046* 0.047* 0.045* 0.039* ( 2.486) (2.597) (2.430) (1.764) RANK_A 0.003 0.003 0.004* 0.004* ( 2.260) (2.305) (2.706) (2.914) RETAIL_C 0.000 0.000 0.000 0.000 ( 1.061) (1.021) (1.120) (1.603) SHARE_S -0.048** -0.048** -0.051** -0.050** ( 5.565) (5.548) (6.238) (5.949) AGE_S -0.061*** -0.061*** -0.060*** -0.061*** ( 42.095) (42.143) (40.982) (41.469) NETDUMMY 0.190 0.186 -0.066 -0.081 ( 0.421) (0.402) (0.042) ( 0.063) INDDUMMY 0.719*** 0.716*** 0.656** 0.655** ( 7.031) (6.984) (4.893) (4.869) DIFF_ADI 0.434** 0.429** -0.041 -0.065 ( 4.598) (4.490) (0.010) (0.024) DIFF_NET 0.834* 0.837* ( 2.918) (2.935) DIFF_IND 0.086 0.107 ( 0.022) (0.033) Good-of-fit Measures: AIC 1077.70 1078.83 1077.53 1078.18 SC 1171.44 1172.57 1182.99 1189.50 -2 Log L 1045.70 1046.83 1041.53 1040.18

Authors: Yan, Zhaoxu.
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Must carry rules
32
Table 3 Results of Logit Regressions
(Regression coefficient with Wald chi-square statistics in parenthesis)
Dep. Var.: DROP, N=2,588
Model I
Model II
Model III
Model IV
INTERCEPT -1.600**
-1.569**
-1.505**
-1.624**
(
4.789) (4.606)
(4.214)
(4.788)
VI_N
-0.057***
-0.057***
-0.056***
(
8.049)
(
8.107)
(7.720)
VI_TOT
-0.041***
(
7.031)
LNSUB
0.093**
0.088**
0.093**
0.096**
(
5.190) (4.713)
(5.252)
(5.556)
SYSSHARE
-3.308
(
1.175)
SYSPENE
-1.214**
-1.203**
-1.154**
-1.138**
(
5.265) (5.176)
(4.779)
(4.653)
CAP
-0.028*** -0.028***
-0.028***
-0.027***
(
12.863) (12.646)
(13.080)
(11.727)
MILE
-0.000
-0.000
-0.000
-0.000
(
0.600) (0.598)
(0.630)
(0.187)
AGE_C
0.028***
0.028***
0.028***
0.030***
(
7.771) (7.628)
(7.257)
(8.150)
SHARE_C
-0.006
-0.006
-0.007
-0.006
(
0.347) (0.339)
(0.416)
(0.263)
OTA_A
0.046*
0.047*
0.045*
0.039*
(
2.486) (2.597)
(2.430)
(1.764)
RANK_A
0.003
0.003
0.004*
0.004*
(
2.260) (2.305)
(2.706)
(2.914)
RETAIL_C
0.000
0.000
0.000
0.000
(
1.061) (1.021)
(1.120)
(1.603)
SHARE_S
-0.048**
-0.048**
-0.051**
-0.050**
(
5.565) (5.548)
(6.238)
(5.949)
AGE_S
-0.061*** -0.061***
-0.060***
-0.061***
(
42.095) (42.143)
(40.982)
(41.469)
NETDUMMY 0.190
0.186
-0.066
-0.081
(
0.421) (0.402)
(0.042)
(
0.063)
INDDUMMY 0.719***
0.716***
0.656**
0.655**
(
7.031) (6.984)
(4.893)
(4.869)
DIFF_ADI
0.434**
0.429**
-0.041
-0.065
(
4.598) (4.490)
(0.010)
(0.024)
DIFF_NET
0.834*
0.837*
(
2.918)
(2.935)
DIFF_IND
0.086
0.107
(
0.022)
(0.033)
Good-of-fit Measures:
AIC
1077.70 1078.83
1077.53
1078.18
SC
1171.44 1172.57 1182.99
1189.50
-2 Log L
1045.70
1046.83
1041.53
1040.18


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