Variables

IF

Risk

OF

(1)

(2)

(3)

Treat × Post

0.006**

0.152***

0.002

(2.451)

(7.555)

(0.635)

IF

1.916***

(21.646)

OF

Constant

0.0387

−0.894

−1.284***

(0.433)

(−1.251)

(−9.573)

Control/Year/Firm

Yes

Yes

Yes

N

9499

9499

9471

R²

0.018

0.098

0.114