|
| (1) | (2) |
| VARIABLES | EDI | FC |
| EDI |
| −0.111*** |
|
| (−2.59) | |
| State | 0.152*** | −0.763*** |
| (2.98) | (−6.40) | |
| TobinQ | −0.010 | −0.026* |
| (−1.20) | (−1.66) | |
| Lev | −0.086 | −0.256** |
| (−0.63) | (−2.12) | |
| ROE | −0.107 | −0.158 |
| (−0.60) | (−1.63) | |
| Growth | −0.004 | 0.042*** |
| (−0.91) | (2.76) | |
| Constant | 2.848*** | 1.346*** |
| (53.49) | (8.14) | |
| Observations | 984 | 984 |
| R-squared | 0.005 | 0.071 |
| Number of Stkcd | 305 | 305 |
| Company FE | YES | YES |