Variable | (1) | (2) |
Cash Holdings | ||
Shariah Index | −0.0105*** | −0.00536** |
(−5.36) | (−2.48) | |
Leverage | −0.286*** | −0.306*** |
(−9.16) | (−9.79) | |
Leverage Square Term | 0.139*** | 0.155*** |
(4.58) | (5.1) | |
Cost of Debt | 0.0797** | 0.00969 |
(2.44) | (0.25) | |
Working Capital | −0.192*** | −0.189*** |
(−23.36) | (−23.17) | |
Dividend | −0.00574*** | −0.00656*** |
(−3.04) | (−3.15) | |
Capital Expenditure | −0.0789*** | −0.101*** |
(−3.51) | (−4.35) | |
ROA | 0.0726*** | 0.0559*** |
(4.42) | (3.33) | |
Size | 0.00680** | 0.0140*** |
(1.97) | (3.79) | |
Firm Effect | Yes | Yes |
Period Effect | No | Yes |
N | 5172 | 5172 |
r2 | 0.128 | 0.141 |