Variable

Pred. Sign

Model (5-1)

Model (5-2)

Supp

+

0.061295 (2.468)^**

0.218879 (2.857)^***

Supp²

-

−0.175783 (−2.182)^**

Buyer

+

0.022839 (0.772)

0.057433 (0.688)

Buyer²

-

−0.043947 (−0.444)

MTB

+

−0.00354 (−5.259)^***

−0.003475 (−5.160)^***

Z-SCORE

+

−0.00171 (−2.925)^***

−0.001664 (−2.833)^***

Cashflow

+

−0.099239 (0.622)

0.025795 (0.557)

SelfHHI

+

0.028796 (−1.055)

−0.095906 (−1.02)

R²

0.318

0.320

Adjusted R²

0.185

0.186

F-Statistic

2.390

2.395

N

2397

2397