(1)

(2)

(3)

(4)

(5)

NCSKEW

DUNVOL

ieffi

Over

Under

Incentive

−0.480**

−0.493**

−0.016

−0.014*

0.002

(0.226)

(0.213)

(0.011)

(0.008)

(0.005)

N

2501

2501

2501

2501

2501

R²

0.0930

0.126

0.0180

0.0190

0.0100

Adj.R-Sq

0.0930

0.126

0.0180

0.0190

0.0100