| (0.0030) | (0.3210) | (0.0010) | |
| Age | −0.0021** | 0.0017*** | −0.0001 |
| (0.0216) | (0.0000) | (0.6040) | |
| Constant | 0.3163*** | 0.5539*** | 0.2479*** |
|
| (0.0000) | (0.0000) | (0.0000) |
| Year | Yes | Yes | Yes |
| Industry | Yes | Yes | Yes |
| Observation | 6863 | 5687 | 12,551 |