Variable | (1) Absinv | (2) Absinv | (3) Absinv | (4) Absinv |
CenF | −0.003*** (−3.42) | −0.002** (−2.56) | −0.003*** (−2.97) | −0.003*** (−2.74) |
CenF2 | 0.001 (1.04) |
| −0.002 (−0.66) |
|
CenP | −0.003 (−0.90) | −0.002 (−0.71) | −0.003 (−0.93) | −0.003 (−0.89) |
CenP2 | 0.011** (2.55) | 0.008** (1.98) | 0.012*** (2.58) | 0.010** (2.07) |
CenF*CenP |
| 0.008 (1.01) |
| 0.011 (1.20) |
CenF*CenP2 |
| −0.026* (−1.93) |
| −0.031** (−2.00) |
Eu | 0.010*** (4.50) | 0.010*** (4.51) | 0.009*** (3.90) | 0.009*** (3.92) |
Fcf | −0.000 (−0.91) | −0.000 (−0.95) | −0.000 (−0.62) | −0.000 (−0.67) |
Adm | −0.034*** (−3.16) | −0.035*** (−3.26) | −0.030** (−2.43) | −0.032*** (−2.60) |
Otac | −0.025*** (−3.03) | −0.024*** (−2.94) | −0.024** (−2.57) | −0.023** (−2.43) |
Top1 | −0.000 (−0.79) | −0.000 (−0.72) | −0.000 (−1.18) | −0.000 (−1.11) |
Sep | −0.000 (−0.41) | −0.000 (−0.42) | −0.000 (−0.82) | −0.000 (−0.86) |
Ms | 0.005*** (2.70) | 0.005*** (2.61) | 0.005** (2.32) | 0.005** (2.18) |
Comp | 0.000 (0.87) | 0.000 (0.80) | 0.001 (1.22) | 0.002* (1.90) |
Mino | −0.002 (−0.48) | −0.002 (−0.71) | −0.001* (−1.68) | −0.003 (−1.55) |
Bsize | −0.001 (−0.59) | −0.001 (−0.60) | −0.001 (−0.32) | −0.001 (−0.35) |
Indep | 0.000 (0.08) | 0.000 (0.08) | −0.003 (−0.48) | −0.003 (−0.49) |
Year & Industry | Control | |||
Sample size | 10,825 | 9084 | ||
AdjR2 | 0.085 | 0.086 | 0.088 | 0.089 |