(1)

(2)

COD (SOE = 1)

COD (SOE = 0)

Score

0.0176^**

0.00479

(2.22)

(0.47)

TAT

−0.0250

0.197^***

(−0.60)

(3.94)

SIZE

−0.117^***

−0.0690^**

(−3.48)

(−2.19)

ROA

1.146^***

0.308^***

(5.35)

(2.59)

Tobinq

−0.00304

−0.00335

(−0.35)

(−0.50)

CR

0.0000111

0.000773

(0.29)

(0.91)

Growth

0.0907^***

0.000978

(3.31)

(0.03)

Year

Control

Control

_cons

2.978^***

1.794^**

(3.64)

(2.44)

N

1362

1242