Salary

Range

Strategy

0.455**

0.039*

(2.556)

(1.781)

Roa

15.788***

1.553***

(9.728)

(7.865)

Size

2.098***

0.179***

(19.111)

(13.432)

Growth

0.263

0.032

(0.786)

(0.793)

Lev

−1.986***

−0.151**

(−3.953)

(−2.471)

Risk

0.052

0.019**

(0.734)

(2.226)

Qty

5.192***

0.103**

(13.386)

(2.178)

Bsize

−1.445***

−0.118**

(−3.206)

(−2.155)

Top10

−0.480

−0.055

(−0.846)

(−0.791)

Soe

−0.859***

−0.066***

(−4.448)

(−2.818)

Industry

Control

Control

Year

Control

Control

_cons

−52.562***

−3.453***

(−22.194)

(−11.985)

N

3003

3003

R²

0.336

0.203

Adj R²

0.328

0.193