CGS | + | 0.035*** (2.71) | 0.021 (0.82) | 0.028*** (2.74) |
NUMBER_GEO_SEGMENT | − | 0.104 (1.27) |
|
|
CGS*NUMBER_GEO_SEGMENT | + | 0.007*** (2.77) |
|
|
NEG_HERF_GEO_SALES | − |
| 0.711 (1.21) |
|
CGS*NEG_HERF_GEO_SALES | + |
| 0.049*** (2.70) |
|
FOR_SALES | − |
|
| 8.423 (1.18) |
CGS*FOR_SALES | + |
|
| 0.544* (1.89) |
NUMBER_PRODUCT_SEGMENT | − | −0.020 (−0.84) |
|
|
NEG_HERF_PRODUCT_SALES | − |
| −0.132 (−1.07) |
|
DIV/TA | + | 0.080 (0.10) | 0.030 (0.04) | 0.018 (0.02) |
NI/NS | + | 0.005 (1.12) | 0.005 (1.12) | 0.004 (1.06) |
SIZE | − | −0.030* (−1.75) | −0.027 (−1.57) | −0.035** (−2.08) |
TOBIN’S_Q | + | 0.038*** (2.87) | 0.038*** (2.81) | 0.038*** (2.83) |
INVESTMENT | + | 0.070*** (2.97) | 0.071*** (3.01) | 0.077*** (3.32) |
YEAR FIXED EFFECTS INDUSTRY FIXED EFFECTS |
| YES YES | YES YES | YES YES |
Adjusted R-square |
| 0.200 | 0.201 | 0.197 |
Number of observations |
| 579 | 579 | 579 |