(1)

(2)

(3)

SA

Credit

SA

FT

−0.1242^***

−0.0080^***

−0.1230^***

(−6.72)

(−3.29)

(−6.66)

Credit

0.1537^***

(2.76)

_cons

2.7129^***

0.0826^***

2.7002^***

(38.51)

(8.15)

(38.38)

Control

YES

YES

YES

Industry

YES

YES

YES

Year

YES

YES

YES

N

10,857

10,857

10,857

Adjusted R²

0.3919

0.0719

0.3926