Tobin Q

(4)

(5)

(6)

SD

0.061^***

−0.023

SI

−0.006^***

−0.002

SV

−0.045^**

−0.020

Size

−0.491^***

−0.480^***

−0.484^***

−0.018

−0.018

−0.018

Age

0.012^***

0.012^***

0.012^***

−0.002

−0.002

−0.002

Owner

0.072^***

0.082^***

0.075^***

−0.027

−0.027

−0.027

Debt

0.095

0.093

0.091

−0.097

−0.097

−0.097

_cons

12.661^***

12.496^***

12.529^***

(0.408)

(0.405)

(0.405)

Observations

9711

9711

9711

R-squared

0.406

0.407

0.406