| Model 1 | Model 2 | Model 3 | Model 4 |
ln(Total-Asset) | 0.000574 (0.13) | −0.000927 (−0.22) | 0.00258 (0.60) | 0.000796 (0.18) |
Asset-Liability-Ratio | −0.528*** (−16.45) | −0.535*** (−16.92) | −0.530*** (−16.67) | −0.536*** (−17.02) |
Net-Capital | −0.234*** (−7.50) | −0.260*** (−8.31) | −0.245*** (−7.89) | −0.264*** (−8.49) |
ROA | 0.304*** (3.04) | 0.309*** (3.13) | 0.226** (2.24) | 0.250** (2.49) |
ln(Spill_Tech) |
| 0.0222*** (4.84) |
| 0.0190*** (4.04) |
R&D-Invest |
|
| 0.950*** | 0.712*** |
|
|
| (3.90) | (2.87) |
_cons | 0.425*** | 0.152** | 0.389*** | 0.164** |
| (8.70) | (2.04) | (7.88) | (2.21) |
N | 767 | 767 | 767 | 767 |
R-square | 0.4335 | 0.4504 | 0.4446 | 0.4563 |