| VARIABLES | DC |
| Fpg | −0.006*** |
|
| (−3.23) |
| Size | 0.020 |
|
| (1.27) |
| Lev | −0.341*** |
|
| (−7.35) |
| Roa | −0.343*** |
|
| (−6.51) |
| Ind | 0.087 |
|
| (0.41) |