Model | Raw return |
Flowi,t−1 | 0.080 |
0.003 | |
RankBottom | −1.294 |
−1.63 | |
RankMiddle | 1.515** |
2.04 | |
RankTop | 5.334*** |
4.36 | |
ln(TNA) | −1.388*** |
−8.43 | |
ln(Family Size) | 0.124 |
1.17 | |
Std | −1.309 |
0.32 | |
MarketReturn | 0.886*** |
3.19 | |
ln(Age) | 0.085 |
0.52 | |
Year Dummy | Yes |
Observations | 1993 |
Sargan test | 0.515 |
AR(1) | 0.003 |
AR(2) | 0.735 |