|
| (1) | (2) | (3) | (4) |
| VARIABLES | EOR | EOR | EOR | EOR |
| ER | −0.879*** | −1.663*** | −0.874*** | −1.652*** |
|
| (−15.09) | (−15.56) | (−15.04) | (−15.49) |
| ER2 |
| 61.838*** |
| 61.430*** |
|
|
| (10.09) |
| (10.04) |
| Fanpm |
|
| −0.000*** | −0.000*** |
|
|
|
| (−10.03) | (−9.96) |
| ROIC |
|
| 0.000*** | 0.000*** |
|
|
|
| (5.31) | (5.01) |
| Fagr |
|
| −0.000** | −0.000** |
|
|
|
| (−2.22) | (−2.21) |
| Opgr |
|
| −0.000*** | −0.000*** |
|
|
|
| (−6.86) | (−6.76) |
| Ci |
|
| 0.000*** | 0.000*** |
|
|
|
| (2.70) | (2.59) |
| Gr |
|
| 0.000** | 0.000** |
|
|
|
| (2.12) | (2.03) |
| Constant |
|
| 0.053*** | 0.054*** |
|
|
|
| (84.64) | (82.96) |
| N | 10,889 | 10,889 | 10,889 | 10,889 |
| R2 | 0.027 | 0.034 | 0.031 | 0.037 |