Variables

Lag1 period

Lag2 period

Lag1 investment_int

2.153*

(1.59)

-

Lag2 investment_int

-

4.102***

(1.82)

size

0.494***

(6.13)

0.388***

(5.29)

lev

−2.997***

(−6.63)

−2.230***

(−4.77)

om

−0.0816*

(−1.13)

−0.0177*

(−0.21)

_cons

−9.645***

(−5.88)

−7.644***

(−5.09)

N

441

290