Cash | −0.444*** |
| (−8.30) |
Outshare | −0.000 |
| (−0.11) |
ROI | 0.104 |
| (0.42) |
SA | 0.022 |
| (0.78) |
Turnover | 0.009*** |
| (2.93) |
Capital | −0.646*** |
| (−14.25) |
Sdret | 11.645*** |
| (5.18) |
Indd | 0.002* |
| (1.87) |
Constant | 0.525*** |
| (4.41) |
Year & Industry | Yes |
Cluster | Yes |
R-squared | 0.11 |
N | 20,093 |