| logit | |||
| ROA | 0.007460** | grow | −0.008409 |
| (0.003014) | (0.012048) | ||
| lnassets | 0.030454 | age | 0.030630*** |
| (0.019993) | (0.003807) | ||
| debttoassets | −0.007812*** | soe | 0.006424 |
| (0.001269) | (0.047841) | ||
| OCF | −0.000059 | indnum | 3.371771*** |
| (0.000693) | (0.613577) | ||
| ca | −1.318433*** | lnGDP | 0.3559485*** |
| (0.271845) | (0.030688) | ||
| Constant | −5.820787*** | ||
| (0.508327) | |||
| Observations | 12,464 | ||