Panel A: STAR | Panel B: CONTROL | ||||
Variable | Coef. | St.Err. | Coef. | St.Err. | |
2019 | BVPS | 2.54*** | 0.94 | 0.762 | 0.542 |
COEPS | 17.07*** | 3.155 | 6.986* | 4.205 | |
EIEPS | 48.335 | 39.11 | 23.33*** | 2.522 | |
D3COEPS | −78.683 | 78.91 | 14.264** | 6.192 | |
D4EIEPS | 65.431 | 150.651 | −19.595*** | 3.823 | |
LEV | 62.886* | 35.66 | 0.464 | 6.372 | |
GROW | 88.868*** | 11.863 | 1.48 | 0.92 | |
OWN | 5.363 | 20.163 | 0 | . | |
COVID | −9.51 | 10.81 | 0.526 | 2.253 | |
AGE | 0.508 | 0.879 | −0.118 | 0.277 | |
Constant | −146.439*** | 27.751 | 1.745 | 9.395 | |
2020 | BVPS | 11.374*** | 1.343 | 1.734* | 0.917 |
COEPS | 5.637 | 4.145 | 6.817 | 5.78 | |
EIEPS | −11.159 | 36.875 | 49.767*** | 3.574 | |
D3COEPS | −25.669 | 32 | 42.795*** | 7.985 | |
D4EIEPS | −3267.584 | 6967.689 | −46.193*** | 5.23 | |
LEV | 26.263 | 63.874 | 0.532 | 10.374 | |
GROW | 25.963*** | 4.794 | −1.444 | 1.689 | |
OWN | 25.445 | 37.907 | 0 | . | |
COVID | 23.54 | 19.782 | 2.836 | 3.501 | |
AGE | −0.685 | 1.725 | −0.075 | 0.409 | |
Constant | −133.621*** | 37.32 | −2.279 | 13.141 | |
TOTAL | BVPS | 7.847*** | 0.954 | 0.983* | 0.547 |
COEPS | 10.497*** | 3.034 | 8.524** | 3.696 | |
EIEPS | 47.124 | 28.539 | 37.812*** | 2.329 | |
D3COEPS | −6.82 | 26.679 | 27.406*** | 5.232 | |
D4EIEPS | −122.169* | 69.079 | −34.233*** | 3.465 | |
LEV | −7.279 | 38.626 | −5.306 | 5.854 | |
GROW | 19.821*** | 3.605 | −0.358 | 0.931 | |
OWN | 14.976 | 24.292 | 0 | . | |
COVID | 23.717* | 12.199 | 2.235 | 2.147 | |
AGE | −0.514 | 1.074 | −0.161 | 0.26 | |
Constant | −73.476*** | 21.344 | 4.635 | 8.391 |