(1)

(2)

TFP-LP

TFP-FIX

L.Fin-back

−0.053**

−0.081***

(0.021)

(0.021)

Soe

0.108***

0.137***

(0.011)

(0.012)

Lev

1.180***

1.315***

(0.030)

(0.031)

Roa

3.251***

3.282***

(0.082)

(0.084)

Size

0.618***

0.824***

(0.005)

(0.005)

Age

0.032**

0.031**

(0.014)

(0.014)

Indratio

−0.136

−0.232***

(0.086)

(0.089)

_cons

−5.436***

−7.528***

(0.123)

(0.126)

N

15632.000

15632.000

r2

0.738

0.809

Industry

Yes

Yes

year

Yes

Yes