Table 6.
The effects of EID on FP.
|
VARIABLES |
(1) |
(2) |
(3) |
(4) |
|---|---|---|---|---|
| FP | FP | FP HP |
FP NHP |
|
| EID | 0.0010*** | 0.0007*** | 0.0005* | 0.0006*** |
| (5.5973) | (4.3001) | (1.8347) | (2.6502) | |
| State | −0.0317*** | −0.0289 | −0.0257* | |
| (-2.7250) | (-1.4565) | (-1.8180) | ||
| Leverage | −0.1794*** | −0.1761*** | −0.1556*** | |
| (-9.9503) | (-5.4805) | (-7.4948) | ||
| Size | 0.0258*** | 0.0225*** | 0.0264*** | |
| (6.9239) | (2.7724) | (6.1449) | ||
| Growth | 0.0583*** | 0.0695*** | 0.0517*** | |
| (17.8273) | (10.6387) | (14.1163) | ||
| Holder1 | 0.0006** | −0.0002 | 0.0008*** | |
| (2.4707) | (-0.4111) | (2.8325) | ||
| Constant | 0.1400*** | 0.1069*** | 0.1492*** | 0.0825*** |
| (36.6497) | (6.6815) | (4.9943) | (4.1639) | |
| Obs | 10,402 | 10,402 | 3289 | 7113 |
| R2 | 0.068 | 0.188 | 0.186 | 0.202 |
| Firms | 1125 | 1125 | 373 | 812 |
| Firm FE | YES | YES | YES | YES |
| Year FE | YES | YES | YES | YES |
Note: t-statistics are presented in parentheses. *, ** and *** represent significance levels of 10 %, 5 % and 1 %, respectively.