Cons.

Q

lev

cash

age

size

ret

inv

coefficient

−0.059***

0.003***

−0.008***

0.014***

−0.007***

0.002***

0.004***

0.482***

t

−4.200

10.130

−5.590

8.170

−9.900

5.510

5.100

52.790

Adj R^2

0.247

F

153.580

N

13942

Industry,

year

control