|
| (a) | (b) |
| VARIABLES | RD | RD |
| FIN | 8.187*** | 7.630*** |
| (0.640) | (12.45) | |
| FIN2 | −19.57*** | −17.115*** |
| (1.644) | (−10.87) | |
| MP × FIN | −243.7*** | −211.265*** |
| (23.55) | (−9.26) | |
| MP × FIN_1 | 436.8*** | 359.865*** |
| (71.13) | (5.26) | |
| ROA |
| 0.040*** |
|
| (3.29) | |
| LEV |
| 1.925*** |
|
| (23.51) | |
| TBQ |
| −0.131*** |
|
| (−10.03) | |
| Constant | 17.79*** | 17.293*** |
| (0.0193) | (345.84) | |
| Observations | 8526 | 8526 |
| R-squared | 0.026 | 0.11 |
| Ftest |
| 0 |
| r2_a |
| 0.110 |
| F |
| 150.9 |