Table 5.

Short-run analysis.

variable	Micro	Small	Medium	Large
Constant (α0)	0.0022	0.0071	0.0091	0.0072
t-statistic	(1.67)	(2.84)	(3.67)	(2.75)
Crisest	0.0057	0.0001	−0.0043	−0.0047
t-statistic	(1.36)	(0.03)	(-1.11)	(-1.02)
ΔTFASit	0.1310	0.0643	0.1232	0.1483
t-statistic	(8.41)	(4.03)	(4.90)	(2.54)
ΔIFASit	0.1449	0.1378	0.2989	0.2274
t-statistic	(5.88)	(4.81)	(5.65)	(2.89)
ΔTFASitx Crisest	0.0122	−0.0310	−0.0944	−0.0698
t-statistic	(1.88)	(-2.21)	(-4.37)	(-1.52)
ΔIFASitxCrisest	−0.1928	0.0007	0.0189	0.1127
t-statistic	(-1.13)	(0.01)	(0.45)	(0.56)
ΔCUASit	0.2293	0.1867	0.0916	0.0028
t-statistic	(8.43)	(6.30)	(3.37)	(1.52)
ΔLOANit	0.0200	0.1156	0.1220	0.1743
t-statistic	(0.62)	(3.88)	(6.48)	(3.05)
ΔLTDBit	−0.0997	−0.0467	−0.0345	0.0087
t-statistic	(-5.41)	(-1.94)	(-3.13)	(1.05)
OPMit	−0.1135	−0.0355	0.0010	0.0225
t-statistic	(-7.41)	(-1.54)	(0.05)	(2.38)
N	9,674,333	2,399,468	684,430	277,090
R-Squared	0.21	0.21	0.18	0.07