Variables

Coefficient

ABSJONESDA

Std. error

t-Statistic

Prob.

INDEP

−0.724***

0.0261

−2.77

0.006

FAMILY

0.0203

0.0522

0.39

0.697

FEMALE

−0.0235

0.0411

−0.57

0.567

FOREIGN

−0.0174

0.0351

−0.50

0.620

DUALITY

−0.0344***

0.0100

−3.43

0.001

BIG4

0.2471

0.0153

1.61

0.109

LEV

0.0250

0.0161

1.55

0.123

ROA

−0.1363***

0.0424

−3.21

0.001

SIZE

−0.0082

0.0118

−0.70

0.485

Constant

0.973

0.0615

1.58

0.115

Observations

503

R-Squared

0.101

Fixed effects

YES