| Variables | Coefficients and t-value | |||
| (i) NCSKEWi,t+1 | (j) DUVOLi,t+1 | (k) NCSKEWi,t+1 | (l) DUVOLi,t+1 | |
| Acci,t |
|
| 0.383** | 0.133** |
|
|
| (0.17) | (0.06) | |
| Resi,t | 0.017* | 0.010*** | 0.017* | 0.010*** |
| (0.01) | (0.00) | (0.01) | (0.00) | |
| Control variables | Controlled | Controlled | Controlled | Controlled |
| Industry | fixed | fixed | fixed | fixed |
| Year | fixed | fixed | fixed | fixed |
| N | 1350 | 1367 | 1350 | 1367 |
| R2 | 0.102 | 0.107 | 0.103 | 0.107 |
| Ad-R2 | 0.0850 | 0.0900 | 0.0850 | 0.0900 |