| ROE | EPS | ZSCR | σ (ROE) | ROE | EPS | ZSCR | σ (ROE) |
EXP | 0.33* | −1.33 | 0.02 | −4.07* |
|
|
|
|
(2.04) | (−1.85) | (0.12) | (−2.50) |
|
|
|
| |
GEN |
|
|
|
| 0.54** | 2.39* | 0.25 | −0.76** |
|
|
|
| (3.56) | (2.08) | (0.92) | (−2.75) | |
fsize | 0.21 | 0.25 | 0.23 | 1.03 | 0.22 | 0.16 | 0.22 | 0.82 |
(1.71) | (0.94) | (1.75) | (0.82) | (1.70) | (0.59) | (1.79) | (0.89) | |
lvrg | 0.69** | −1.11 | 0.40* | −11.38* | 0.85* | −0.81 | 0.42 | −8.97* |
(2.74) | (−0.98) | (2.08) | (−2.29) | (2.38) | (−0.65) | (1.96) | (−1.99) | |
mbr | 0.00 | −0.02 | 0.01 | 4.81* | 0.01 | −0.02 | 0.01 | 4.14* |
(0.47) | (−0.88) | (1.20) | (1.97) | (0.53) | (−0.99) | (1.22) | (2.19) | |
tgbl | −1.04 | 2.25 | −0.42 | 9.35* | −1.06 | 2.69* | −0.45 | 8.05* |
(−1.74) | (1.73) | (−1.21) | (2.36) | (−1.72) | (2.22) | (−1.32) | (2.77) | |
prft | 0.01 | −0.01 | 0.01 | 0.08 | 0.02 | −0.03 | 0.01 | 0.06 |
(1.61) | (−0.50) | (1.25) | (1.01) | (1.91) | (−1.20) | (1.41) | (1.09) | |
bsize | −3.52* | −14.33 | 0.76 | 8.41* | −2.60*** | −9.04 | 0.27 | 5.69** |
(−2.60) | (−1.83) | (0.68) | (2.49) | (−4.15) | (−1.00) | (0.26) | (3.32) | |
dual | 0.22 | −0.59 | 0.07 | −0.11 | 0.20 | −0.55 | 0.07 | −0.19 |
(1.46) | (−1.34) | (0.94) | (−0.19) | (1.30) | (−1.28) | (0.92) | (−0.32) | |
indp | 1.02 | 1.78 | 0.90* | −1.28 | 1.01 | 2.03 | 0.92* | −0.94 |
(1.55) | (1.22) | (2.13) | (−0.59) | (1.48) | (1.56) | (2.19) | (−0.46) | |
inst | 0.00* | −0.00 | 0.00 | 0.06*** | 0.00 | −0.00 | 0.00 | 0.05*** |
(2.04) | (−0.09) | (1.24) | (3.34) | (1.73) | (−0.10) | (1.30) | (3.43) | |
mngr | 0.07 | −0.26* | −0.07 | −2.33 | 0.07 | −0.14* | −0.07 | −1.35 |
(0.48) | (−2.55) | (−0.73) | (−1.45) | (0.47) | (−2.30) | (−0.80) | (−1.30) | |
blck | 0.51 | 1.43* | 0.40* | −1.55 | 0.49 | 1.48** | 0.40* | −1.07 |
(1.57) | (2.61) | (2.09) | (−1.63) | (1.45) | (2.82) | (2.16) | (−1.37) | |
devt | −0.20 | −0.05 | −0.29 | 7.73*** | −0.10 | −0.46 | −0.29 | 4.96** |
(−0.34) | (−0.06) | (−0.90) | (3.99) | (−0.17) | (−0.59) | (−0.96) | (2.70) | |
constant | −0.62 | −2.25** | −0.49 | 0.85 | −0.59 | −2.27** | −0.49 | 0.17 |
(−1.52) | (−3.15) | (−1.88) | (0.52) | (−1.39) | (−3.40) | (−1.93) | (0.15) | |
N | 119 | 113 | 127 | 133 | 119 | 113 | 127 | 130 |
R2 | 0.330 | 0.320 | 0.357 | 0.601 | 0.326 | 0.310 | 0.362 | 0.551 |