Variable properties

Var abbreviation

(3) FE

(4) OLS

Dependent variable

DAR

DAR

DAR

Independent variables

ETR

0.0259**

(2.27)

0.1317***

(6.85)

NDTS

−0.5906***

(−2.88)

−1.7445***

(−11.91)

Control variables

SIZE

0.0584***

(12.66)

0.0459***

(25.82)

AS

−0.0283

(−0.91)

0.0943***

(3.48)

ROA

−0.4944***

(−14.41)

−1.4498***

(−25.95)

GROW

0.0191***

(4.68)

0.1029***

(10.55)

CASH

−0.0075

(−0.57)

0.0397

(1.22)

CA

−0.0144***

(−16.10)

−0.0305***

(−26.50)

Z

0.0001

(0.81)

0.0002

(0.83)

Constant

−0.7640***

(−27.23)

−0.5219***

(−10.54)

Industry

Not control

Not control

Degree of fit

0.3662

0.4839