VARIABLES | CAR | CAR | ||
(1) | T | (2) | T | |
GR | 0.288* | (1.782) | 0.479** | (2.398) |
OC*GR |
|
| −0.515* | (−1.659) |
OC |
|
| 0.125 | (1.312) |
Shr1 | −0.000486 | (−0.285) | −0.000141 | (−0.0823) |
State | 0.0217 | (0.316) | 0.0137 | (0.196) |
GT | 0.149** | (2.509) | 0.143** | (2.401) |
ROA | 0.152 | (0.402) | 0.0187 | (0.0486) |
Ratio | 0.00163 | (1.545) | 0.00154 | (1.457) |
FCF | 0.0148 | (0.0752) | 0.0830 | (0.412) |
Lev | 0.00242 | (0.0551) | −0.0120 | (−0.268) |
Size | −0.0717** | (−2.500) | −0.0698** | (−2.383) |
Constant | 1.081 | (1.354) | 0.948 | (1.174) |
Year Ind | Yes Yes | Yes Yes | Yes Yes | Yes Yes |
Observations | 153 |
| 153 |
|
Adj R-squared | 0.1198 |
| 0.1252 |
|