VARIABLES

H1a

H1b

H1c

H1d

H1e

COC

−15.40***

(−3.73)

GE

−11.68***

(−6.93)

RQ

−43.30***

(−4.29)

ROL

−12.16***

(−4.30)

POL

−21.59***

(−5.07)

ROA

−1.722

−1.670

−1.032

−1.419

−1.536

(−1.40)

(−1.52)

(−0.87)

(−1.19)

(−1.31)

lnAsset

3.913***

2.839***

−1.276

2.465***

1.105**

(5.05)

(7.00)

(−1.75)

(5.45)

(2.94)

NIIr

1.340

0.937

1.167

1.515

0.212

(0.80)

(0.61)

(0.70)

(0.91)

(0.13)

_cons

−63.65***

−39.21***

8.265

−41.47***

−27.30***

(−5.04)

(−7.06)

(0.95)

(−5.82)

(−5.10)

Observations

164

164

164

164

164

Adj.R2(r2_p)

0.0219

0.0814

0.0596

0.0450

0.1345