| (1) Risk1 | (2) Risk1 | |
| Fin | −1.291*** | −1.000*** |
|
| (0.102) | (0.115) |
| HHI | 0.113 | |
|
| (0.147) | |
| Fin_HHI | 1.682** | |
|
| (0.835) | |
| Roa | 10.07*** | 10.43*** |
|
| (0.169) | (0.169) |
| Top1 | 0.316*** | 0.264*** |
|
| (0.0612) | (0.0615) |
| Ind | 0.700*** | 0.773*** |
|
| (0.163) | (0.164) |
| Age | 0.421*** | 0.391*** |
|
| (0.0116) | (0.0116) |
| _cons | 8.624*** | 8.452*** |
|
| (0.197) | (0.200) |
| N | 23984 | 23984 |
| R2 Industry Year | 0.327 Yes Yes | 0.317 Yes Yes |