| VARIABLES | (1) |
| Frequency | |
| Female_rate | −0.00475** |
|
| (−4.728) |
| Tagr | −2.93e−05 |
|
| (−0.739) |
| Lev | −0.000389* |
|
| (−2.131) |
| Size | −0.000974** |
|
| (−2.086) |
| ROA | 2.91e−07 |
|
| (0.0666) |
| Indp | −0.00562* |
|
| (−1.527) |
| ROE | −0.000135 |
|
| (−0.304) |
| Tatr | −5.96e−08 |
|
| (−0.267) |
| Industry | control |
| Year | control |
| Constant | −0.980** |
|
| (−2.403) |
| N | 607 |
| R-squared | 0.002 |