model | (4) | (5) | (6) |
The independent variables | Size | Indep | Common |
L.SA | 1.303*** | 28.543*** | 16.479** |
| (1.31) | (4.29) | (1.81) |
AR(1) | 3.85 | 3.77 | 2.59 |
AR(2) | 0.96 | 3.22 | 1.57 |
hansen | 0.759 | 0.362 | 0.128 |
N | 4376 | 4376 | 4376 |