| Variables | (1) | (2) | (3) |
| Zscore | Zscore | Zscore | |
| Fin |
| 8.692*** |
|
|
|
| (10.445) |
|
| Fin2 |
| −11.871*** |
|
|
|
| (−7.309) |
|
| WFin | 4.921*** |
|
|
|
| (5.847) |
|
|
| WFin2 | −4.387*** |
|
|
|
| (−2.988) |
|
|
| L.Fin |
|
| 4.222*** |
|
|
|
| (4.787) |
| L.Fin2 |
|
| −5.513*** |
|
|
|
| (−3.193) |
| Cons | 13.403*** | 13.326*** | 11.110*** |
|
| (8.211) | (8.555) | (6.580) |
| N | 1101 | 1101 | 1021 |
| Year | Yes | Yes | Yes |
| Stkcd | No | Yes | No |
| Controls | Yes | Yes | Yes |
| Adj-R2 | 0.372 | 0.417 | 0.439 |