Precision

Variable

(1)

(2)

(3)

Inf

−0.339

−0.961

−4.929*

(−0.24)

(−0.67)

(−1.71)

Size

−0.144***

−0.146***

(−2.60)

(−2.97)

Age

−0.410***

−0.174***

(−5.49)

(−2.77)

Lev

−0.336

−0.028

(−1.48)

(−0.15)

Roa

11.544***

7.886***

(15.72)

(9.77)

Loss

−0.175***

−0.156***

(−3.57)

(−2.62)

BTM

−0.016

0.008

(−0.29)

(0.16)

Offer

−0.007

0.128

(−0.06)

(0.91)

Soe

−0.297***

−0.169**

(−3.42)

(−2.04)

Her5

−0.362

−0.154

(−1.30)

(−0.62)

Inst

1.010

1.120

(1.39)

(1.51)

Lnanalyst

0.243***

0.113***

(5.85)

(2.88)

Gdp_g

0.723

0.832

(0.44)

(0.47)

Lprecision

3.777***

(51.19)

_Cons

1.522***

5.867***

3.138***

(6.18)

(5.40)

(3.14)

Year Quarter Industry Effect

Yes

Yes

Yes

N

47,562

47,562

33,987

pseudo R-sq

0.100

0.194

0.447