VARIABLES

(1)

risk1

(2)

risk1

(3)

risk1

(4)

risk1

(5)

risk1

(6)

risk1

FT

0.390^***

(5.62)

0.492^***

(5.20)

0.427^***

(6.87)

0.544^***

(6.91)

2.955^***

(3.10)

1.883^*

(1.98)

FT²

−0.049^***

(-3.20)

−0.102^***

(−4.75)

−0.050^***

(−3.67)

−0.083^***

(-4.40)

−0.914^***

(−4.30)

−1.116^***

(−5.53)

Liquidity

0.009^***

(3.31)

0.001

(0.26)

0.086^***

(3.51)

Tat

−0.380^***

(−5.67)

−0.182^***

(−3.03)

0.711

(1.20)

Lnsize

−0.158^**

(−2.48)

−0.136^**

(−2.46)

7.044^***

(4.78)