(1)

(2)

(3)

(4)

Debt

Maturity

Debt

Maturity

Dsoe

0.009***

0.019***

(3.23)

(3.98)

Soeshare

0.012***

0.026***

(3.04)

(3.82)

Size

0.005***

0.006***

0.005***

0.006***

(6.83)

(4.69)

(6.84)

(4.71)

Lev

0.144***

0.040***

0.144***

0.041***

(25.36)

(3.97)

(25.39)

(3.99)

ROA

0.007

−0.020

−0.007

−0.020

(−0.49)

(−0.77)

(−0.50)

(−0.78)

Growth

0.007***

0.011**

0.006***

0.011**

(2.76)

(2.56)

(2.73)

(2.52)

FirmAge

0.001

0.004

0.001

0.004

(0.44)

(0.81)

(0.43)

(0.79)

_cons

−0.121***

−0.041

−0.121***

−0.041

(−7.45)

(−1.38)

(−7.45)

(−1.38)

Year FE

Yes

Yes

Yes

Yes

Industry FE

Yes

Yes

Yes

Yes

N

8068

8068

8068

8068

R²

0.330

0.264

0.330

0.264