(1)

(2)

(2)

Inveffi

TFP-LP

TFP-FIX

L.Bankback

0.010^***

−0.143^***

−0.178^***

(0.004)

(0.039)

(0.040)

Inveffi

−1.158^***

−1.304^***

(0.088)

(0.090)

Lev

0.006^**

1.198^***

1.345^***

(0.003)

(0.030)

(0.031)

Roa

0.034^***

3.262^***

3.308^***

(0.007)

(0.082)

(0.084)

Size

−0.001^***

0.624^***

0.832^***

(0.000)

(0.005)

(0.005)

Age

−0.014^***

0.058^***

0.065^***

(0.001)

(0.013)

(0.013)

Indratio

0.015^*

−0.138

−0.248^***

(0.008)

(0.086)

(0.088)

_cons

0.104^***

−5.530^***

−7.647^***

(0.011)

(0.122)

(0.125)

N

15647.000

15647.000

15647.000

r2

0.054

0.741

0.811

Industry

Yes

Yes

Yes

year

Yes

Yes

Yes