Variables/ Indicators

DELSTATEPCT = 1

DELSTATEPCT = 0

LGSTCHGIDX = 1

LGSTCHGIDX = 0

CTRLPCTSTATE = 1

CTRLPCTSTATE = 0

MODX

0.4679***

0.3001***

0.6770***

0.2040***

0.3410***

0.3322***

IDXYRRET

1.1498***

1.2129***

1.2375***

1.2047***

1.2371***

1.0970***

LEVRATIO

0.0955

0.1117*

−0.0897

0.1950

−0.0291

0.0312

SIZE

−0.0155

−0.0510***

0.0046

−0.0500**

−0.0314**

−0.0300***

INDUSTRY

−0.0002

−0.0015

0.0032

−0.0075

0.0007

0.0017

CONS

0.1949

0.9191***

−0.1938

0.8501*

0.5485**

0.5433***

Adjusted-R2

0.6779

0.7848

0.7460

0.7852

0.7622

0.6403