(1)

(2)

Debt

Maturity

Dsoe

0.005*

0.056**

(2.22)

(2.98)

Soeshare

0.129

0.002

(1.45)

(0.12)

Size

0.009***

0.051***

(22.53)

(31.95)

Lev

0.141***

0.005

(53.10)

(0.42)

ROA

−0.020**

0.185***

(−2.62)

(6.01)

Growth

0.005***

0.011**

(5.47)

(2.91)

FirmAge

−0.003*

0.003

(−2.06)

(0.48)

_cons

−0.196***

−0.836***

(−22.57)

(−23.71)

Year FE

Yes

Yes

Industry FE

Yes

Yes

N

29,809

29,809

R2

0.359

0.257