(1)

lnVOL

(2)

lnVOL

(3)

lnVOL

(4)

lnVOL

CNS

0.2197^***

(4.621)

0.2233^***

(4.276)

0.2237^***

(4.328)

0.2232^***

(4.439)

CAT

0.1884

(0.151)

0.0759

(0.356)

0.0554

(0.338)

LEV

0.1725^***

(1.143)

0.0584

(1.000)

0.0674

(1.041)

SIZE

−0.0594^***

(−6.854)

−0.0722^***

(−6.521)

EPS

−0.1236

(−1.427)

THP

0.2355^***

(4.023)

_cons

−3.7804^***

(−48.387)

−3.878^***

(−50.759)

−3.5514^***

(−52.464)

−3.6058^***

(−50.121)

Observations

529

529

529

529

R-squared

0.0318

0.047

0.1031

0.1321