| Variables | (1) | (2) | (3) | (4) | (5) |
| Interest Rate | Interest Rate | Interest Rate | Interest Rate | Interest Rate | |
| Power_Sales | −0.00182 | −0.00158 | −0.00167 | −0.00177 | −0.00151 |
| (0.00331) | (0.00328) | (0.00329) | (0.00384) | (0.00352) | |
| Size |
| 0.308 | 0.377 | 0.458 | 0.500* |
|
| (0.219) | (0.251) | (0.279) | (0.289) | |
| Leverage |
|
| 0.0135 | 0.0455*** | 0.0406** |
|
|
| (0.00911) | (0.0167) | (0.0173) | |
| Market_Book (M/B) |
|
|
| −0.00353** | −0.00430** |
|
|
|
| (0.00166) | (0.00177) | |
| Sales_Growth (S/G) |
|
|
| 0.0124*** | 0.0121*** |
|
|
|
| (0.00451) | (0.00451) | |
| Tangibility |
|
|
|
| −0.475 |
|
|
|
|
| (0.794) | |
| Profitability |
|
|
|
| 0.0123 |
|
|
|
|
| (0.0125) | |
| Long_Term_Debt_Ratio |
|
|
|
| 0.791 |
|
|
|
|
| (0.951) | |
| Constant | 7.462*** | 1.108 | −0.360 | −2.133 | −2.985 |
| (0.00286) | (4.520) | (5.209) | (5.792) | (5.902) | |
| Observations | 1102 | 1102 | 1102 | 896 | 896 |
| R-squared | 0.001 | 0.004 | 0.005 | 0.019 | 0.022 |
| Number of code | 250 | 250 | 250 | 224 | 224 |