| (1) | (2) | (3) |
| Roe | Roe Soe = 0 | Roe Soe = 1 |
Treat | 0.154*** (3.228) | 0.245*** (4.304) | −0.031 (−0.677) |
Post | −0.021*** (−2.977) | −0.024** (−2.460) | −0.022* (−1.782) |
TP | 0.040*** (6.650) | 0.015** (2.138) | 0.065*** (7.005) |
Size | 0.037*** (7.465) | 0.032*** (5.717) | 0.033*** (2.945) |
Lev | −0.160*** (−9.078) | −0.113*** (−5.371) | −0.251*** (−7.452) |
Cfo | 0.204*** (11.765) | 0.204*** (9.636) | 0.204*** (6.788) |
Soe | −0.058*** (−3.071) |
|
|
Shrer | 0.080*** (3.324) | 0.096*** (3.433) | 0.059 (1.211) |
Idrt | −0.037 (−1.131) | 0.026 (0.622) | −0.107** (−2.061) |
Dual | −0.002 (−0.582) | −0.000 (−0.026) | −0.007 (−0.754) |
Age | 0.005 (0.228) | 0.019 (0.703) | −0.010 (−0.228) |
Worker | −0.011** (−2.409) | −0.001 (−0.128) | −0.027*** (−3.327) |
Audit | 0.011 (0.969) | 0.007 (0.525) | 0.019 (1.203) |
_cons | −0.692*** (−6.030) | −0.815*** (−6.460) | −0.326 (−1.232) |
Industry | Yes | Yes | Yes |
Year | Yes | Yes | Yes |
N | 11860 | 7246 | 4614 |
adj. R-sq | 0.095 | 0.091 | 0.117 |