| (1) | (2) | (3) |
VARIABLES | IMU | IMU | Sent |
Limit | 1.412*** | 2.501*** | 1.666*** |
(0.414) | (0.181) | (0.0269) | |
Sent | 0.653*** |
|
|
(0.179) |
|
| |
REPU | −0.0545 | −0.0668 | −0.0189 |
(0.0390) | (0.0404) | (0.0249) | |
PB | −0.437*** | −0.350** | 0.133*** |
(0.128) | (0.151) | (0.0282) | |
SIZE | −0.286*** | −0.324*** | −0.0570*** |
(0.0381) | (0.0380) | (0.0151) | |
FUND | −0.000272 | 0.00160 | 0.00286* |
(0.000689) | (0.00113) | (0.00158) | |
ROE | −0.0141*** | −0.0189*** | −0.00726*** |
(0.00382) | (0.00522) | (0.000857) | |
AGE | −0.00766** | −0.0130*** | −0.00823*** |
(0.00290) | (0.00378) | (0.00114) | |
Constant | 8.581*** | 8.743*** | 0.248 |
(0.747) | (0.648) | (0.298) | |
Observations | 586 | 586 | 586 |
R-squared | 0.418 | 0.385 | 0.664 |
Number of Ind | 16 | 16 | 16 |
Year | YES | YES | YES |
Industry | YES | YES | YES |