	GI	NEDI	PMI	EMI	MAI
Constant	0.097***	0.108***	0.093***	0.114***	0.112***
Constant	(0.000)	(0.000)	(0.000)	(0.000)	(0.000)
ICQ	0.012**	0.011**	0.030***	−0.006	−0.001
ICQ	(0.030)	(0.044)	(0.001)	(0.156)	(0.667)
RMI_n	0.003***	0.001**	0.003***	0.001*	0.001***
RMI_n	(0.000)	(0.023)	(0.002)	(0.093)	(0.007)
ICQ × RMI_n	−0.003***	−0.002***	−0.004***	0.000	−0.001*
ICQ × RMI_n	(0.001)	(0.002)	(0.000)	(0.893)	(0.082)
State	−0.005***	−0.005***	−0.005***	−0.005***	−0.005***
State	(0.000)	(0.000)	(0.000)	(0.000)	(0.001)
Lnasset	−0.005***	−0.005***	−0.005***	−0.005***	−0.005***
Lnasset	(0.000)	(0.000)	(0.000)	(0.000)	(0.000)
Roe	0.033***	0.033***	0.033***	0.033***	0.032***
Roe	(0.000)	(0.000)	(0.000)	(0.000)	(0.000)
Leverage	0.040***	0.040***	0.040***	0.041***	0.041***
Leverage	(0.000)	(0.000)	(0.000)	(0.000)	(0.000)
Revgrowth	0.008***	0.007***	0.007***	0.008***	0.008***
Revgrowth	(0.000)	(0.001)	(0.001)	(0.000)	(0.000)
Year	control
Industry	control
N	12755	12755	12755	12755	12755
Cox and Snell R²
−2 log likehood
Adj. R²	0.040	0.039	0.040	0.039	0.039
F Value	22.079	21.809	21.990	21.924	21.763