| (1) | (2) | (3) | (4) | (5) | (6) |
| Pincome | Grosspro | Cash | Pc | Tax | Sub |
Don | 0.219*** | 0.775*** | 0.831* | 0.180** | 0.023 | 0.035*** |
| (8.95) | (7.82) | (1.79) | (2.48) | (1.48) | (5.63) |
Asset | 0.007*** | 0.0160* | 1.343*** | 0.036*** | 0.007*** | −0.020*** |
| (3.44) | (1.71) | (25.31) | (5.50) | (4.30) | (−3.28) |
Lev | −0.266*** | −1.039*** | −1.813*** | 0.050 | −0.034*** | −0.077 |
| (−22.32) | (−18.81) | (−8.12) | (1.41) | (−3.61) | (−1.23) |
Industry | 0.032*** | 0.0482 | −0.562*** | −0.016 | 0.004 | −0.012*** |
| (3.88) | (1.26) | (−3.14) | (−0.62) | (0.80) | (−5.12) |
No1share | 0.050*** | 0.160*** | 0.763*** | −0.053 | 0.032*** | 0.016*** |
| (3.94) | (2.76) | (3.15) | (−1.23) | (3.30) | (3.65) |
Board | 0.003 | 0.00920 | −0.0268 | 0.025*** | −0.004*** | −0.001*** |
| (1.61) | (1.18) | (−1.04) | (5.07) | (−3.09) | (−2.81) |
Both | 0.016*** | 0.0762*** | 0.131** | −0.034*** | −0.007** | −0.019* |
| (4.56) | (4.71) | (2.38) | (−2.94) | (−2.51) | (−1.72) |