One-factor alpha

Non-US

US

(1)

(2)

(3)

(4)

(5)

(6)

Performance

0.0595***

0.0586***

0.0483***

0.0498***

0.0792***

0.0783***

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

Performance × institutional

0.0063**

−0.0218***

0.0036

(0.02)

(0.00)

(0.31)

Institutional

0.0014

−0.0019

0.0122***

0.0234***

−0.0086***

−0.0105***

(0.35)

(0.40)

(0.00)

(0.00)

(0.00)

(0.00)

Log Size

−0.0052***

−0.0052***

−0.0039***

−0.0039***

−0.0079***

−0.0079***

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

Log Family Size

0.0021***

0.0021***

0.0012***

0.0012***

0.0033***

0.0033***

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

Log Age

−0.0123***

−0.0123***

−0.0104***

−0.0104***

−0.0146***

−0.0146***

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)

(0.00)