Period

Firm Size

Sample Size

Mean

Std. Dev.

5th

Percentile

95th

Percentile

Scale

Model 1

1996-2007

Small

6443

−.004

.015

−.020

.007

Medium

3210

−.001

.004

−.005

.001

Large

889

.002

.004

−.002

.009

2008-2017

Small

15,959

−.0008

.015

−.013

.011

Medium

5615

−.0002

.002

−.002

.001

Large

1115

.0009

.006

−.002

.004

Model 2

1996-2007

Small

6443

−.004

.015

−.021

.007

Medium

3210

−.001

.003

−.005

.001

Large

889

.002

.004

−.002

.009

2008-2017

Small

15,959

−.0008

.015

−.013

.011

Medium

5615

−.0002

.002

−.002

.001

Large

1115

.0009

.006

−.002

.005

TC

Model 1

1996-2007

Small

6443

.062

.017

.044

.101

Medium

3210

.070

.018

.049

.105

Large

889

.078

.019

.052

.109

2008-2017

Small

15,959

.022

.015

−.002

.046

Medium

5615

.024

.016

−.0006

.050

Large

1115

.026

.017

.002

.053

Model 2

1996-2007

Small

6443

.051

.012

.037

.077

Medium

3210

.058

.012

.042

.081

Large

889

.065

.013

.047

.087

2008-2017

Small

15,959

.025

.011

.008

.041

Medium

5615

.028

.011

.011

.046

Large

1115

.031

.012

.014

.050

TEC

Model 1

1996-2007

Small

6443

.007

.008

.0008

.023

Medium

3210

.007

.007

.001

.023

Large

889

.008

.007

.0007

.023

2008-2017

Small

15,959

−.007

.007

−.020

.0007

Medium

5615

−.007

.007

−.020

.0007

Large

1115

−.007

.008

−.022

.0007

Model 2

1996-2007

Small

6443

−.019

.011

−.039

−.004

Medium

3210

−.017

.010

−.034

−.004

Large

889

−.015

.009

−.029

−.002

2008-2017

Small

15,959

−.021

.012

−.043

−.003

Medium

5615

−.019

.011

−.039

−.004

Large

1115

−.019

.013

−.040

−.003