Growth | 0.001*** | 0.001 | −0.001 |
| (3.21) | (1.12) | (−0.88) |
State | −0.279*** | 0.075 | −1.365*** |
| (−8.60) | (0.96) | (−7.36) |
COCEN | 0.001 | −0.005*** | −0.013*** |
| (0.73) | (−3.28) | (−4.87) |
Age | −0.014*** | 0.008 | −0.011 |
| (−3.58) | (1.22) | (−0.99) |
Tenure | −0.001 | 0.025* | 0.031 |
| (−0.13) | (1.84) | (1.36) |
EPS | −0.107*** | - | - |
| (−3.01) | - | - |
IMR | - | −4.390*** | −5.095*** |
| - | (−13.13) | (−7.93) |
cons | 2.036*** | −1.503*** | −6.088*** |
| (6.79) | (−3.15) | (−6.95) |
Industry/Annual Fixed Effect | Yes | Yes | Yes |
N | 11,910 | 7961 | 7940 |
Adjust-R2 | - | 0.102 | - |