| (1) | (2) | (3) | (4) |
| m1 | m2 | m3 | m4 |
VARIABLES | csr | csr | csr | csr |
|
|
|
|
|
Po-L | 0.115*** | 0.113*** | 1.106*** | 1.108*** |
| (3.72e−07) | (0.000513) | (4.29e−06) | (4.20e−06) |
rp |
| 0.0466 |
| −0.0222 |
|
| (0.926) |
| (0.964) |
lis | 0.634*** | 0.635*** | 0.628*** | 0.627*** |
| (2.10e−10) | (2.19e−10) | (2.98e−10) | (3.13e−10) |
ind | 0.0503*** | 0.0503*** | 0.0506*** | 0.0506*** |
| (0.000103) | (0.000103) | (8.93e−05) | (8.77e−05) |
age | −0.00360 | −0.00420 | 0.801*** | 0.803*** |
| (0.983) | (0.980) | (0.00192) | (0.00172) |
size | 1.071*** | 1.072*** | 1.070*** | 1.070*** |
| (0) | (0) | (0) | (0) |
roa | 2.187 | 2.118 | 2.262 | 2.295 |
| (0.385) | (0.294) | (0.375) | (0.271) |
ap |
|
| −0.346*** | −0.347*** |
|
|
| (3.84e−05) | (3.56e−05) |
Constant | −13.39*** | −13.40*** | −15.69*** | −15.69*** |
| (0) | (0) | (0) | (0) |
|
|
|
|
|
Observations | 3,876 | 3,876 | 3,876 | 3,876 |