Variables

Non-Covid

Covid

Non-WSCity

WSCity

z_YieldSpread

z_YieldSpread

z_YieldSpread

z_YieldSpread

z_Amount

−0.1602***

−0.1521**

−0.1172**

−0.4092**

(−12.052)

(−2.482)

(−2.186)

(−2.096)

Soe

−0.3480

−0.4710*

(−1.193)

(−1.890)

Green

0.0707

−0.0609

0.0153

−0.3916**

(0.626)

(−0.999)

(0.193)

(−2.210)

City

0.0931

0.1276*

(0.837)

(1.850)

Secure

−0.4675***

−0.2427***

−0.1314

−0.2998

(−3.145)

(−2.910)

(−1.551)

(−1.645)

z_MainScore

−0.3775***

−0.3739***

−0.4048***

−0.5315**

(−4.728)

(−7.393)

(−8.306)

(−2.119)

z_DebtScore

−0.3356***

−0.1931***

−0.2020***

−0.3705***

(−5.273)

(−5.297)

(−4.847)

(−5.998)

z_M2

0.1031

−0.0739

−0.0194

−0.1197

(0.714)

(−1.596)

(−0.263)

(−0.895)

z_pGDP

0.0291

−0.1131*

−0.3025***

−0.1122

(0.294)

(−1.885)

(−3.361)

(−0.463)

z_Fiscal

−0.2897*

−0.0751

0.0113

0.0513

(−1.862)

(−1.321)

(0.123)

(0.353)

z_HS

−0.0790

−0.0197

−0.0527

0.0140

(−1.231)

(−0.677)

(−1.337)

(0.143)

z_Oil

0.0511

0.0394

0.0207

−0.1183

(0.991)

(1.214)

(0.499)

(−0.914)

z_USD

0.0009

0.1365**

0.0173

0.1834

(0.013)

(2.437)

(0.291)

(1.509)

Constant

0.1369

0.6253*

0.3373

1.0468**

(0.293)

(1.876)

(1.306)

(2.118)

Observations

110

452

244

64

R-squared

0.863

0.720

0.718

0.722

Region FE

YES

YES

YES

YES

Year FE

YES

YES

YES

YES