| M1 | M2 | M3 | M4 | M5 | M6 | M7 | M8 | M9 | M10 | M11 |
Firm scale | 0.332*** |
| 0.228*** |
| 0.332*** |
| 0.329*** |
| 0.240*** |
| 0.316*** |
Gender |
| −0.138 | −0.091 | −0.079 | −0.078 |
|
|
|
|
|
|
Age |
| 0.084*** | 0.249*** |
|
| 0.288*** | 0.284*** |
|
|
|
|
Education |
| 0.381*** | 0.295*** |
|
|
|
| 0.389*** | 0.320*** |
|
|
Tenure |
| 0.148* | 0.101 |
|
|
|
|
|
| 0.152* | 0.103 |
R2 | 0.107 | 0.226 | 0.27 | 0.02 | 0.109 | 0.079 | 0.185 | 0.148 | 0.198 | 0.019 | 0.114 |
F | 30.902 | 19.276 | 19.535 | 1.550 | 16.339 | 22.546 | 29.318 | 44.465 | 31.838 | 5.918 | 17.043 |
Sig. | 0.000 | 0.000 | 0.000 | 0.214 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.016 | 0.000 |