VARIABLES | NCSKEW | DUVOL | ||
Soe = 1 | Soe = 0 | Soe = 1 | Soe = 0 | |
igroup | −0.0241 | −0.0617*** | −0.0117 | −0.0356** |
| [−1.60] | [−2.86] | [−1.11] | [−2.32] |
Dturn | 0.0144 | −0.0478** | −0.0046 | −0.0243* |
| [0.53] | [−2.48] | [−0.25] | [−1.80] |
em | −0.0725 | 0.0166 | 0.0011 | −0.0041 |
| [−0.85] | [0.19] | [0.02] | [−0.07] |
size | −0.0408*** | −0.0131 | −0.0335*** | −0.0194*** |
| [−5.79] | [−1.44] | [−6.90] | [−2.97] |
lev | 0.0341 | −0.1061** | 0.0180 | −0.0908*** |
| [0.74] | [−2.29] | [0.56] | [−2.76] |
roa | 0.6149*** | 0.3954*** | 0.3303*** | 0.2284** |
| [4.01] | [2.67] | [3.01] | [2.12] |
sd | 0.4831 | 0.6362* | 0.1028 | 0.3818* |
| [1.51] | [1.82] | [0.52] | [1.82] |
Constant | 0.6176*** | 0.1098 | 0.5082*** | 0.3209** |
| [3.99] | [0.57] | [4.75] | [2.31] |
Observations | 7680 | 7290 | 7680 | 7290 |
Adjusted R-squared | 0.08 | 0.05 | 0.10 | 0.08 |
F | 22.73 | 14.38 | 30.24 | 21.90 |