Variables

UI

OI

AI

Fin

−0.0021***

−0.0030

−0.0033***

(0.0000)

(0.3870)

(0.0000)

Lev

−0.0354***

−0.0195

−0.0228***

(0.0000)

(0.1380)

(0.0010)

Size

−0.0114**

−0.0228***

−0.0090***

(0.0000)

(0.0000)

(0.0000)

ROA

−0.0322***

0.1188

0.0339***

(0.0000)

(0.0000)

(0.0000)

Growth

0.0076***

0.0025*

0.0052***

(0.0000)

(0.0940)

(0.0000)

FCF

0.0069***

0.0143

0.0107***