Variables | (1) | (2) |
∆Cash | ∆Cash | |
CF | 0.4287*** | 0.4312*** |
| (0.0000) | (0.0000) |
Fin*CF |
| −0.2291** |
|
| (0.0440) |
Growth | −0.0124*** | −0.0124*** |
| (0.0010) | (0.0010) |
Exp | −0.0844*** | −0.0841*** |
| (0.0000) | (0.0000) |
Nwc | 0.4958*** | 0.4959*** |
| (0.0000) | (0.0000) |
SDebt | 0.2960*** | 0.2960*** |
| (0.0000) | (0.0000) |
Size | 0.0117*** | 0.0116*** |
| (0.0010) | (0.0010) |
Constant | −0.2867*** | −0.2849*** |
| (0.0000) | (0.0000) |
Observations | 12,551 | 12,551 |
Adj-R2 | 0.5516 | 0.5474 |
Year | Yes | Yes |
Industry | Yes | Yes |