| Variable Name | Debt | Debt | Debt | Debt |
| AE |
| 32.44*** |
|
|
|
| (2.929) |
|
| |
| STP | −5.272*** | −6.686*** |
|
|
| (0.520) | (0.418) |
|
| |
| DFX | −0.207** | −0.105 |
|
|
| (0.092) | (0.071) |
|
| |
| DFA |
|
| 0.142 | 0.659 |
|
|
| (0.584) | (0.564) | |
| FED |
|
| −103.1*** | −101.3*** |
|
|
| (21.912) | (20.742) | |
| FID |
|
| 22.64 | 29.74 |
|
|
| (29.373) | (27.844) | |
| TRG |
|
|
| 163.9*** |
|
|
|
| (35.957) | |
| Constant | 11.13*** | 11.33*** | 9.715*** | −149.8*** |
| (0.400) | (0.307) | (1.496) | (35.025) | |
| Observations | 204 | 204 | 204 | 204 |
| R-squared | 0.414 | 0.660 | 0.120 | 0.216 |
| Ajusted R2 | 0.0588 | 0.0588 | 0.0588 | 0.0588 |