No restrictions on institutional sales

restrictions on institutional sales

Firm ages

−0.075***

0.000224

−4.81E−6**

6.95E−6

Industry average P/E

0.048***

0.014

0.000214**

0.000201

Shares in circulation

−6.91E−9*

3.9E−9

−3.90E−11**

1.9E−11

Listing time lag (days)

0.236***

0.028

0.000734*

Allocation rate (%)

0.54***

0.13

−0.03789***

0.003716

Adjusted R²

0.50

0.11

Observations

1846

912