| (1) | (2) |
| TFP_LP | TFP_GMM |
SPI | 0.015*** | 0.018*** |
| (0.004) | (0.004) |
SG&A | −0.995*** | −0.938*** |
| (0.187) | (0.192) |
Cashflow | 0.691*** | 0.636*** |
| (0.066) | (0.075) |
Fixed | −0.860*** | −2.125*** |
| (0.080) | (0.091) |
Lev | 0.369*** | 0.306*** |
| (0.064) | (0.066) |
Size | 0.512*** | 0.118*** |
| (0.018) | (0.019) |
Age | 0.282*** | 0.202** |
| (0.087) | (0.094) |
ROA | 0.553*** | 0.590*** |
| (0.103) | (0.115) |
_cons | 0.097 | 6.161*** |
| (0.461) | (0.476) |
FIRM FE | YES | YES |
YEAR FE | YES | YES |
N | 20964 | 20964 |
R2 | 0.510 | 0.510 |