VARIABLES | (1) | (2) | (3) | (4) |
Financial inefficiency | P > |t| | Social inefficiency | P > |t| | |
size | 8.659*** | 0.001 | 7.820** | 0.011 |
| (2.395) |
| (2.906) |
|
size2 | −0.218*** | 0.001 | −0.196** | 0.010 |
| (0.0596) |
| (0.0720) |
|
car | 1.463 | 0.261 | −1.230 | 0.390 |
| (1.280) |
| (1.413) |
|
risk | 0.699 | 0.435 | −0.0952 | 0.923 |
| (0.884) |
| (0.973) |
|
liquidity | −0.0288 | 0.159 | −0.00137 | 0.950 |
| (0.0199) |
| (0.0217) |
|
facr | −0.00516 | 0.677 | −5.80e−05 | 0.997 |
| (0.0123) |
| (0.0135) |
|
efc | 0.00180 | 0.166 | 1.05e−05 | 0.994 |
| (0.00127) |
| (0.00139) |
|
sub | −0.0983 | 0.251 | −0.0528 | 0.505 |
| (0.0840) |
| (0.0784) |
|
Constant | −85.89*** | 0.001 | −77.55** | 0.013 |
| (24.09) |
| (29.33) |
|
sigma | 0.196*** |
| 0.188*** |
|
| (0.0312) |
| (0.0341) |
|
Observations | 40 |
| 40 |
|