Variable name

(1) CWD

(2) LWD

Coef.

t-Stat

Coef.

t-Stat

Short

−0.043**

−2.14

−0.009*

−1.67

Roa

−2.607***

−6.86

−0.652***

−6.98

Growth

0.007

1.12

−0.001

−0.49

IndΔRoa

1.805

1.47

0.305

0.91

IndGrowth

−0.053

−0.86

−0.008

−0.63

Mshare

0.047**

1.99

0.004

0.67

Lev

−0.069

−0.87

0.003

0.18