tbc

tbc

SEA

−0.130

(−1.110)

mix

0.140

(0.730)

educetio

0.166

(0.890)

wor

−0.470***

(−2.950)

o

18.19***

(7.700)

r

13.47***

(3.160)

s

−3.151

(−0.800)

t

35.01***

(10.79)

riskb

3.355***

(2.830)

3.365

(2.840)

lnsize

−1.646***

(−30.90)

−1.643

(−30.94)

grouth

0.0783

(1.630)

0.0815

(1.700)

roundb

0.576***

(6.230)

0.560

(6.070)

debt

0.700

(2.860)

0.756

(3.090)

cost

0.525***

(5.030)

0.538

(5.160)

Mpeople

0.0125

(0.880)

0.0134

(0.950)

DDZB

1.345**

(2.010)

1.274

(1.910)

lnast1

−0.0158**

(−2.380)

−0.0162

(−2.450)

persentage_

1.080***

(3.100)

1.086

(3.130)

ONE

−0.0422

(−0.490)

−0.0275

(−0.320)

lninc

0.414***

(5.770)

0.414

(5.780)

date

56.58*

(1.900)

59.30

(2)

year

YES

YES

industry

YES

YES

N

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