Independent variables

M_3sls01

gov

0.912* (0.478)

academic

0.888* (0.457)

cpa

0.971** (0.482)

law

0.829* (0.481)

corp

0.964** (0.468)

fbr

−2.395 (1.745)

dbr

−9.514 (6.454)

fdbr

−0.103 (0.748)

bnum

−0.299 (0.186)

supervisor

0.025 (0.021)

fsvr

0.161 (0.286)

assetmil~n

−0.006 (0.019)

first

−0.868*** (0.327)

first 2 - 5

−1.609*** (0.571)

Dum_indu~2

−0.862*** (0.184)

Dum_indu~3

−0.155 (0.240)

Dum_indu~4

0.534 (0.548)

Dum_indu~5

−0.809*** (0.256)

_cons

5.026* (2.602)

N

118

R2

0.575

Chi Square Statistic

243.80