(1)

(2)

(3)

OLS

FE

RE

INAQ

0.039^***

0.047^***

0.046^***

(0.006)

(0.006)

(0.005)

TAT

0.040^***

0.075^***

0.049^***

(0.009)

(0.017)

(0.011)

Size

0.011^***

0.055^***

0.018^***

(0.003)

(0.009)

(0.004)

LE

−0.060^***

−0.106^**

-0.075^**

(0.022)

(0.044)

(0.030)

Share

0.000^**

−0.001^**

0.000

(0.000)

(0.001)

(0.000)

Growth

0.082^***

0.042^***

0.056^***

(0.015)

(0.012)

(0.012)

LnB

0.041^***

0.042

0.042^**

(0.016)

(0.028)

(0.020)

_cons

−0.380^***

−1.327^***

-0.536^***

(0.066)

(0.201)

(0.099)

N

500.000

500.000

500.000

r2

0.250

0.300

r2_a

0.239

0.112

Prob > chi2 = 0.0000