(1)

(2)

(3)

(4)

Debt

Maturity

Debt

Maturity

Dsoe50

0.010***

0.022***

(3.92)

(4.63)

Soelargest

0.016***

0.038***

(2.86)

(3.75)

Size

0.005***

0.006***

0.005***

0.006***

(6.71)

(4.58)

(6.80)

(4.62)

Lev

0.144***

0.041***

0.144***

0.041***

(25.39)

(3.99)

(25.45)

(4.05)

ROA

−0.006

−0.019

−0.007

−0.021

(−0.45)

(−0.73)

(−0.51)

(−0.79)

Growth

0.006***

0.011**

0.006***

0.011**

(2.74)

(2.53)

(2.72)

(2.50)

FirmAge

0.001

0.004

0.001

0.005

(0.41)

(0.77)

(0.53)

(0.91)

_cons

−0.119***

−0.037

−0.121***

−0.040

(−7.34)

(−1.26)

(−7.46)

(−1.35)

Year FE

Yes

Yes

Yes

Yes

Industry FE

Yes

Yes

Yes

Yes

N

8068

8068

8068

8068

R²

0.331

0.204

0.330

0.204