| Independent variables | m_ols01 | m_ols02 |
| gov | 0.497*** (0.123) |
|
| academic | 0.481*** (0.118) |
|
| cpa | 0.564*** (0.127) |
|
| law | 0.416*** (0.128) |
|
| corp | 0.544*** (0.302) |
|
| fbr | −0.366 (0.302) |
|
| dbr | −3.945** (1.564) |
|
| fdbr | 0.268 (0.169) |
|
| bnum | −0.136*** (0.048) | 0.031** (0.012) |
| supervisor | −0.006 (0.011) | −0.006 (0.012) |
| fsvr | −0.173 (0.146) | −0.026 (0.164) |
| assetmil~n | −0.027*** (0.008) | −0.032*** (0.010) |
| first | −0.811*** (0.173) | −0.670*** (0.196) |
| first 2- 5 | −0.953*** (0.236) | −0.723*** (0.250) |
| Dum_indu~2 | −0.886*** (0.084) | −1.000*** (0.089) |
| Dum_indu~3 | −0.230* (0.116) | −0.199 (0.123) |
| Dum_indu~4 | −0.527*** (0.171) | −0.800 (0.171) |
| Dum_indu~5 | −0.622*** (0.126) | −0.719*** (0.132) |
| _cons | 2.650*** (0.655) | 1.329*** (0.205) |
| N | 119 | 119 |
| r2 | 0.860 | 0.788 |
| r2_a | 0.835 | 0.769 |
| F | 34.091 | 40.222 |