| RATE | |
| IP | −0.010*** |
| (−3.76) | |
| SIZE | −0.001 |
| (−0.50) | |
| MTB | 0.001** |
| (2.13) | |
| LEV | −0.016** |
| (−2.31) | |
| ROA | 0.740*** |
| (25.71) | |
| PPE | 0.045*** |
| (6.68) | |
| INTANG | 0.018 |
| (1.10) | |
| LOSS | 0.009 |
| (1.53) | |
| Industry | Control |
| Year | Control |
| Constant | 0.065** |
| (2.57) | |
| Obs | 20739 |
| Adj.R2 | 0.073 |