(1)

(2)

absDA

absDA

Dig

−0.001***

−0.001***

(−4.570)

(−4.157)

Size

0.001**

(2.630)

ROA

−0.009

(−0.709)

ROE

−0.090***

(−14.576)

REC

0.042***

(11.842)

BM

−0.005***

(−12.239)

Big4

−0.007***

(−4.534)

_cons

0.057***

0.041***

(17.695)

(4.861)

N

26913.000

26913.000

r2

0.021

0.079

ind

Yes

Yes

year

Yes

Yes