|
| (1) | (2) | (3) |
| VARIABLES | IMU | IMU | Sent |
| Limit | 1.709*** | 2.429*** | 1.593*** |
| (0.182) | (0.188) | (0.0167) | |
| Sent | 0.452*** |
|
|
| (0.0474) |
|
| |
| REPU | 0.117*** | 0.128*** | 0.0245 |
| (0.0347) | (0.0300) | (0.0246) | |
| PB | −0.328*** | −0.295*** | 0.0742*** |
| (0.0389) | (0.0436) | (0.0153) | |
| SIZE | −0.372*** | −0.395*** | −0.0518*** |
| (0.0274) | (0.0258) | (0.00796) | |
| FUND | −0.00268 | −0.00142 | 0.00279*** |
| (0.00172) | (0.00187) | (0.000698) | |
| ROE | −0.0287*** | −0.0305*** | −0.00392*** |
| (0.00357) | (0.00314) | (0.00131) | |
| AGE | −0.0225*** | −0.0233*** | −0.00176 |
| (0.00351) | (0.00405) | (0.00171) | |
| Constant | 10.33*** | 10.40*** | 0.148 |
| (0.527) | (0.504) | (0.148) | |
| Observations | 2342 | 2342 | 2342 |
| R-squared | 0.362 | 0.351 | 0.626 |
| Number of Ind | 18 | 18 | 18 |
| Year | YES | YES | YES |
| Industry | YES | YES | YES |