| VARIABLES | (1) | (2) | (3) | (4) | (5) | (6) |
| ncskew_mdos | duvol_mdos | crash_mdos | ncskew_mdos | duvol_mdos | crash_mdos | |
| LGD | 0.000163* | 0.000165*** | 0.000145*** |
|
|
|
|
| (9.45e−05) | (6.08e−05) | (3.57e−05) |
|
|
|
| Invbonds |
|
|
| 0.0101* | 0.00532 | −0.00262 |
|
|
|
|
| (0.00611) | (0.00394) | (0.00232) |
| 控制变量 | YES | YES | YES | YES | YES | YES |
| Constant | −0.522*** | −0.0896 | 0.341*** | −0.485*** | −0.330*** | 0.0500* |
|
| (0.189) | (0.122) | (0.0716) | (0.0759) | (0.0489) | (0.0288) |
| Observations | 19,374 | 19,374 | 19,374 | 20,165 | 20,165 | 20,165 |
| R-squared | 0.017 | 0.021 | 0.012 | 0.016 | 0.018 | 0.006 |