Variables

(5)

F_dri

(6)

F_dri

(7)

F_mat

(8)

F_mat

(9)

F_rea

(10)

F_rea

Private10

−0.071^***

−1.239

−0.007

(−3.49)

(−1.56)

(−2.13)

PrivateTS

−0.076^***

−5.801

−0.018

(−3.31)

(−0.90)

(−0.12)

Constant

0.987

0.173^*

0.082^**

0.073

0.821^*

0.991^**

(0.06)

(1.07)

(0.52)

(0.17)

(0.46)

(0.74)

Industry FE

YES

YES

YES

YES

YES

YES

Year FE

YES

YES

YES

YES

YES

YES

N

18,392

18,392

18,392

18,392

18,392

18,392

R²

0.017

0.017

0.01

0.01

0.094

0.094