|
| (1) TobinQ | (2) TobinQ |
| res | −0.0175*** | −0.0170*** |
|
| (−2.65) | (−2.58) |
| Size |
| −0.126** |
|
|
| (−2.28) |
| Lev |
| −0.231 |
|
|
| (−1.26) |
| ROA2 |
| 1.689*** |
|
|
| (2.80) |
| ROE |
| 0.235 |
|
|
| (0.69) |
| Cashflow |
| 0.0827 |
|
|
| (0.34) |
| Growth |
| −0.00434 |
|
|
| (−0.97) |
| CAP |
| −0.0841*** |
|
|
| (−5.46) |
| Invest1 |
| −0.326** |
|
|
| (−2.04) |
| Indep |
| 0.0129*** |
|
|
| (3.18) |
| Dual |
| −0.0534 |
|
|
| (−1.12) |
| Top10 |
| −0.00262 |
|
|
| (−1.03) |
| Seperate |
| 0.000659 |
|
|
| (0.16) |
| FirmAge |
| 0.618 |
|
|
| (1.58) |
| _cons | 2.758*** | 3.780*** |
|
| (13.64) | (2.67) |
| Year | Yes | Yes |
| Firm | Yes | Yes |
| N | 8532 | 8532 |