(1) | |||||
Variables | Pred. Sign | Coefficient | t-stat. | p-value | |
Intercept |
| 0.003 | 0.05 | 0.9580 | |
DY09 | + | 0.028 | 4.53*** | <0.001 | |
DY09 × OPER | + | 0.048 | 2.11** | 0.0348 | |
SIZE | ± | 0.008 | 3.36*** | 0.0008 | |
ROA | ± | −0.038 | −0.90 | 0.3686 | |
LEV | − | 0.024 | 0.76 | 0.4481 | |
PPE | − | −0.039 | −2.55** | 0.0106 | |
TECH | − | −0.014 | −2.82*** | 0.0049 | |
L_ETR | + | 0.405 | 47.45*** | <0.001 | |
Adj R-squared | 0.1339 | ||||
F-value | 326.70 (p-value < 0.0001) | ||||
n | 16,848 | ||||