| 
 | (1) | (2) | (3) | (4) | 
| NCSKEW | DUNVOL | NCSKEW | DUNVOL | |
| ieffi | 
 | 
 | 0.777* | 0.841* | 
| 
 | 
 | (0.455) | (0.466) | |
| Incentive | −0.480** | −0.493** | −0.468** | −0.479** | 
| (0.226) | (0.213) | (0.225) | (0.212) | |
| N | 2501 | 2501 | 2501 | 2501 | 
| R2 | 0.0930 | 0.126 | 0.0940 | 0.128 | 
| Adj.R-Sq | 0.0930 | 0.126 | 0.0940 | 0.128 |