(1)

(2)

(3)

SA

DT

SA

Coverage

−0.043***

0.482***

−0.041***

(0.004)

(0.061)

(0.004)

DT

−0.005***

(0.001)

Size

−0.001

0.329***

0.001

(0.001)

(0.020)

(0.001)

Lev

−0.073***

0.039

−0.073***

(0.005)

(0.078)

(0.005)

CFO

−0.007

−0.106

−0.008

(0.008)

(0.119)

(0.008)

Growth

0.001

−0.000

0.001

(0.001)

(0.010)

(0.001)

ROA

−0.024***

0.097

−0.023***

(0.005)

(0.084)

(0.005)

Tobinq

0.003***

0.026***

0.004***

(0.000)

(0.006)

(0.000)

_cons

−3.099***

−7.028***

−3.131***

(0.026)

(0.405)

(0.026)

N

15552.000

15552.000

15552.000

r2

0.839

0.272

0.840

r2_a

0.797

0.079

0.798