|
| (1) | (2) | (3) | (4) |
| TobinQ | TobinQ | TobinQ | TobinQ | |
| Dsoe | −0.156*** | −0.147*** |
|
|
| (−11.39) | (−10.58) |
|
| |
| Soeshare |
|
| −0.203*** | −0.194*** |
|
|
| (−12.01) | (−11.28) | |
| Dsoe×Debt | 0.773*** |
|
|
|
| (8.38) |
|
|
| |
| Dsoe × Maturity |
| 0.367*** |
|
|
|
| (6.47) |
|
| |
| Soeshare × Debt |
|
| 1.003*** |
|
|
|
| (8.92) |
| |
| Soeshare × Maturity |
|
|
| 0.495*** |
|
|
|
| (7.14) | |
| Debt | −0.654*** |
| −0.653*** |
|
| (−8.33) |
| (−8.41) |
| |
| Maturity |
| −0.353*** |
| −0.358*** |
|
| (−7.49) |
| (−7.68) | |
| Size | −0.326*** | −0.327*** | −0.326*** | −0.327*** |
| (−52.42) | (−52.26) | (−52.28) | (−52.13) | |
| Lev | 0.093** | 0.062 | 0.092** | 0.061 |
| (2.11) | (1.47) | (2.07) | (1.44) | |
| ROA | 3.184*** | 3.182*** | 3.175*** | 3.174*** |
| (21.17) | (21.16) | (21.10) | (21.09) | |
| Growth | 0.020 | 0.020 | 0.021 | 0.021 |
| (1.23) | (1.27) | (1.27) | (1.30) | |
| FirmAge | 0.268*** | 0.268*** | 0.265*** | 0.266*** |
| (16.90) | (16.93) | (16.76) | (16.80) | |
| _cons | 8.228*** | 8.249*** | 8.229*** | 8.252*** |
| (63.79) | (63.79) | (63.79) | (63.81) | |
| Year FE | Yes | Yes | Yes | Yes |
| Industry FE | Yes | Yes | Yes | Yes |
| N | 29,977 | 29,977 | 29,977 | 29,977 |
| R2 | 0.377 | 0.376 | 0.377 | 0.376 |