Enemy level = Enemy level - 3
Multiple uses of 'Scare' can eventually lead to enemies running away instead of attacking in battle. An enemy will only run away if:
(Lowest character level) - (Enemy level) > 15
If the above condition is met, then the chance that a monster will choose to Run will be:
%Chance to Run = 100 - Monster Hit%
Also note that as an enemy level is decreased, there is also the potential of reducing its Magic Attack Multiplier. Bosses are immune to 'Scare' and will also never attempt to Run.