Coefficients and Standard Errors

(1)

(2)

(3)

(4)

POL × GRO

0.423***

0.305***

0.441***

0.265***

(0.028)

(0.063)

(0.030)

(0.046)

TAXR

−0.037***

−0.027***

(0.003)

(0.004)

LEV

−0.126

−0.025

(0.084)

(0.109)

GROWTH

0.067

0.010

(0.041)

(0.038)

CASH

0.942***

1.409***

(0.208)

(0.282)

AGE

−0.003

−0.002

(0.003)

(0.004)

ASSET

0.458***

0.498***

(0.013)

(0.030)

Industry

Y

Y

Year

Y

Y

Province

Y

Y

N

8124

8119

6837

6836

R2

0.028

0.173

0.205

0.320