Coefficient

T

Coefficient

T

Intercept

0.033***

9.646

0.031***

8.451

AQ

−0.051***

−4.556

−0.050***

−4.422

ROA

0.080***

9.384

0.072***

8.146

SAR

−0.005***

−3.447

−0.005***

−3.908

Cont

−0.002

−1.252

Sh1

0.010**

2.082

Institutions

0.049***

3.849

F

14.285

13.533

Adj-R2

0.074

0.077

OBS

4509

4509