2014

2013

2012

2011

2010

2009

2008

Constant

0.1588

0.0427

0.3430***

−0.3696***

−0.4419***

−0.1488

−0.6903***

(1.4635)

(0.4455)

(3.1929)

(−3.5769)

(−4.4922)

(−1.3259)

(−6.7872)

mvp

1.1078***

1.7956***

1.3852***

2.0008***

1.8578***

1.3076**

2.1347***

(6.8934)

(12.1129)

(9.2425)

(13.6212)

(12.5766)

(8.2766)

(13.8870)

M/B

−0.2784***

−0.2195***

−0.4261***

−0.2059***

−0.1598***

−0.3466***

−0.2740***

(−8.4763)

(−6.8853)

(−9.5082)

(−5.8047)

(−6.9609)

(−10.1723)

(−6.0870)

dA/A

−0.1077***

−0.0058**

−0.0237**

−0.0179

0.0015

−0.1274*

−0.0308

(−2.9214)

(−2.2052)

(−1.7405)

(−1.4987)

(0.1960)

(−1.9422)

(−0.6645)

ROA

13.2111***

0.3336***

5.2781***

0.3059***

2.2657***

13.2249**

3.5511***

(11.8367)

(2.8507)

(9.3647)

(3.7543)

(6.4944)

(12.0261)

(8.9954)

McFadden pseudo-R^2

0.2545

0.1542

0.1945

0.1661

0.1786

0.2791

0.2226

Estrella R^2

0.3158

0.1914

0.2452

0.2192

0.2375

0.3645

0.2946

LR Ratio

380.8255

234.5713

302.3092

268.3311

293.1763

466.6130

372.9675

Likelihood

−557.8966

−643.3280

−626.0429

−673.5760

−673.9554

−602.6257

−651.2727

nobs

1158

1199

1195

1186

1191

1207

1209