Year ≥ 2015

Year < 2015

Short

0.1163***

0.0576**

(4.3148)

(2.0389)

CROA

1.7714***

1.8652***

(8.7365)

(22.3636)

Short × CROA

0.6810**

0.7688***

(2.2250)

(3.0079)

N

3291

9205

Adj_R^2

0.2732

0.3376