A multiple regression model was developed for predicting firms' governance level, measured on a scale, based on firm size, firm profitability, fixed-asset ratio, growth opportunities, and non-debt tax shield size. For firm size, the coefficient estimate was 0.06 and the standard error was 0.005. For firm profitability, the estimate was -0.166 and the standard error was 0.03. For fixed-asset ratio the estimate was -0.004 and standard error 0.05. For growth opportunities the estimate was – 0.018 and standard error 0.025. And for non-debt tax shield the estimate was 0.649 and standard error 0.151. The F statistic was 44.11 and the adjusted R2 was 16.5%. Explain these results completely and offer a next step in this analysis. Assume a very large sample size.

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