|
| EFF_value (1) | EFF_value (2) |
| audit | 0.062*** | 0.039** |
| (10.08) | (2.47) | |
| EPS | 0.047*** | 0.030*** |
| (8.61) | (3.41) | |
| LEV | 0.161*** | 0.128*** |
| (6.77) | (2.59) | |
| Cash | −0.005 | −0.005 |
| (−1.31) | (−0.74) | |
| SBS | 0.011** | −0.018 |
| (2.17) | (−1.39) | |
| Id | 0.000 | 0.002* |
| (0.74) | (1.78) | |
| _cons | −0.634*** | −0.245 |
| (0.000) | −0.99 | |
| N | 2969 | 2969 |
| firm | NO | Yes |
| industry | Yes | Yes |
| year | Yes | Yes |
| R2 | 0.326 | 0.162 |