| Variables | (1) | (2) | (3) | (4) | (5) |
| Loan Maturity | Loan Maturity | Loan Maturity | Loan Maturity | Loan Maturity | |
| Power_Sales | −0.000546 | −0.000553 | −0.000552 | −0.000746 | −0.000742 |
| (0.000626) | (0.000626) | (0.000627) | (0.000773) | (0.000774) | |
| Size |
| −0.0181 | −0.0243 | −0.0391 | −0.0435 |
|
| (0.0446) | (0.0477) | (0.0479) | (0.0479) | |
| Leverage |
|
| −0.00122 | −0.00166 | −0.00159 |
|
|
| (0.00209) | (0.00225) | (0.00230) | |
| Market_Book (M/B) |
|
|
| −5.67E−05 | 1.75E−05 |
|
|
|
| (0.000299) | (0.000308) | |
| Sales_Growth (S/G) |
|
|
| 0.00210** | 0.00222** |
|
|
|
| (0.000887) | (0.000912) | |
| Tangibility |
|
|
|
| 0.187 |
|
|
|
|
| (0.155) | |
| Profitability |
|
|
|
| −0.00254 |
|
|
|
|
| (0.00252) | |
| Long_Term_Debt_Ratio |
|
|
|
| 0.0258 |
|
|
|
|
| (0.126) | |
| Constant | 1.668*** | 2.040** | 2.173** | 2.458** | 2.511** |
| (0.000677) | (0.916) | (0.984) | (0.989) | (0.988) | |
| Observations | 13,710 | 13,710 | 13,710 | 11,394 | 11,392 |
| R-squared | 0.000 | 0.000 | 0.000 | 0.001 | 0.001 |
| Number of code | 473 | 473 | 473 | 460 | 460 |