Model | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) |
State | 0.848*** | 1.017*** |
|
|
|
|
|
|
|
Supv | −0.0665 |
| 0.0812 |
|
|
|
|
|
|
Board | 0.0361 |
|
| 0.0692* |
|
|
|
|
|
Ind | 1.433 |
|
|
| −0.132 |
|
|
|
|
Dual | −0.229*** |
|
|
|
| −0.296*** |
|
|
|
Top1 | −0.00579 |
|
|
|
|
| 0.00159 |
|
|
Countb | 0.117 |
|
|
|
|
|
| 0.0942 |
|
Manho | −0.287 |
|
|
|
|
|
|
| −0.418* |
Orectl | −6.535** | −5.844* | −5.114** | −5.462*** | −5.403*** | −5.494*** | −5.405*** | −5.433*** | −5.993*** |
Acf | −0.0875 | 0.232 | 0.547 | 0.399 | 0.561 | 0.414 | 0.586* | 0.549 | 0.356 |
Lev | 0.783** | 1.076*** | 1.230*** | 1.160*** | 1.252*** | 1.105*** | 1.260*** | 1.251*** | 1.109*** |
Size | −0.127*** | −0.100*** | −0.0791*** | −0.101*** | −0.0754** | −0.0863*** | −0.0786*** | −0.0877*** | −0.0819*** |
Roa | 3.783 | 3.54 | 2.865 | 2.961 | 3.027 | 3.163 | 2.989 | 3.221 | 3.208 |
Income | −0.0651 | −0.0695 | −0.139 | −0.138 | −0.145 | −0.135 | −0.145 | −0.152 | −0.108 |
Pseudo R2 | 0.0631 | 0.0501 | 0.0199 | 0.0222 | 0.0181 | 0.0234 | 0.0183 | 0.0206 | 0.0249 |
N | 323 | 324 | 323 | 324 | 324 | 324 | 324 | 324 | 324 |