|
| (1) | (2) |
| Risk1 | Risk1 | |
| Strategy | 0.00025*** | 0.00043*** |
| (3.25) | (5.68) | |
| Size |
| −0.00198*** |
|
| (−6.32) | |
| Lev |
| −0.00788*** |
|
| (−4.14) | |
| Roa |
| −0.06201*** |
|
| (-10.51) | |
| Bm |
| −0.00252*** |
|
| (−8.77) | |
| Soe |
| −0.00545*** |
|
| (−9.27) | |
| ListAge |
| 0.00946*** |
|
| (7.63) | |
| Inst |
| −0.00420*** |
|
| (−2.78) | |
| Time control | YES | YES |
| Industry Control | YES | YES |
| _cons | 0.03728*** | 0.06796*** |
|
| (10.55) | (9.11) |
| N | 8420 | 8420 |
| r2 | 0.10320 | 0.17221 |
| F | 11.99521 | 19.92310 |