VARIABLES

H1a

H1b

H1c

H1d

H1e

COC

0.479***

(10.36)

GE

0.144***

(6.66)

RQ

−0.782***

(−8.12)

ROL

−0.0261

(−0.75)

POL

0.112*

(2.05)

ROA

−0.00372

−0.00913

−0.0189*

−0.0220**

−0.0185*

(−0.49)

(−1.16)

(−2.49)

(−2.72)

(−2.34)

lnAsset

−0.0146

0.0342***

0.0173**

0.0528***

0.0519***

(−1.92)

(6.80)

(2.89)

(10.56)

(11.66)

NIIr

−0.0694***

−0.0535**

−0.0410*

−0.0342

−0.0403

(−3.47)

(−2.61)

(−2.03)

(−1.64)

(−1.93)

_cons

0.976***

0.184**

0.221***

−0.00990

0.0697

(9.31)

(3.23)

(3.92)

(−0.15)

(1.21)

Observations

1166

1166

1166

1166

1166

Adj.R2(r2_p)

0.0930

0.0086

0.0422

0.0372

0.0362