Coefficient | t-stat | Coefficient | t-stat | Coefficient | t-stat | |
Intercept | 0.12*** | 9.53 | 0.17*** | 8.47 | 0.09*** | 4.52 |
AQ | 0.29*** | 8.52 | ||||
TRANS | −0.39*** | −3.57 | −0.22*** | −6.55 | ||
Lev | 0.02*** | 2.69 | 0.01*** | 3.58 | −0.03*** | −2.13 |
Size | −0.04*** | −7.78 | −0.03*** | −10.62 | −0.04*** | −4.46 |
BM | 0.03*** | 6.78 | 0.02*** | 4.51 | 0.01*** | 3.38 |
β | 0.02*** | 4.85 | 0.02*** | 4.14 | 0.02*** | 7.61 |
Growth | 0.03*** | 6.42 | 0.02*** | 7.31 | 0.33*** | 2.31 |
AQD | 0.07*** | 4.13 | ||||
AQD * TRANS | −0.05*** | 3.37 | ||||
adj.R2 | 37.16% | 29.12% | 18.46% | |||
F-stat | 50.01 | 58.92 | 47.55 |