(1)

(2)

(3)

(4)

Reg1

Reg2

Reg1

Reg2

DT

0.0708**

0.147***

−0.0112***

0.149***

(2.99)

(7.16)

(−8.11)

(7.37)

Eu

−1.130***

(−8.79)

Gover

0.0291**

(2.81)

_cons

−0.841

−5.832***

0.364***

−5.840***

(−0.83)

(−8.21)

(−5.07)

(−5.39)

Controls

Yes

Yes

Yes

Yes

Year

Yes

Yes

Yes

Yes

Industry

Yes

Yes

Yes

Yes

N

9146

9146

91146

9146

R-squared

0.41

0.17

0.06

0.18