Histograms of regression-predicted sale values

This figure plots histograms of realized sale values and fitted sale values from Equation (7), based on the sample of corporate commission cases. For each bin j, the blue bars plot the number of bankruptcies b_j and the bin midpoint x_j on the |$ y-$|axis and |$ x-$|axis, respectively. The green bars plot the fitted number of bankruptcies, based on estimates of Equation (7). The regression specifications and bin definitions for panels A and B are given in Table 3.