| EFF_value (1) | EFF_value (2) | EFF_value (3) |
audit | 0.062*** |
| 0.0485*** |
(10.08) |
| (6.49) | |
ownership |
| 0.018** | −0.376*** |
| (2.06) | (−2.80) | |
audit*ownership |
|
| 0.028*** |
|
| (2.92) | |
EPS | 0.047*** | 0.055*** | 0.047*** |
(8.61) | (10.03) | (8.59) | |
LEV | 0.161*** | 0.225*** | 0.158*** |
(6.77) | (9.50) | (6.55) | |
Cash | −0.005 | −0.007* | −0.006 |
(−1.31) | (−1.74) | (−1.55) | |
SBS | 0.011** | 0.011** | 0.009 |
(2.17) | (2.10) | (1.64) | |
Id | 0.000 | 0.000 | 0.001 |
(0.74) | (0.20) | (0.82) | |
_cons | −0.634*** | 0.188*** | −0.452*** |
(0.000) | (0.000) | (0.000) | |
N | 2969 | 2969 | 2969 |
industry | Yes | Yes | Yes |
year | Yes | Yes | Yes |
R2 | 0.326 | 0.296 | 0.331 |