If R&D (%) > 0 | ||||
---|---|---|---|---|
(1) | (2) | (3) | (4) | |
Coef./t | Coef./t | Coef./t | Coef./t | |
PD_Strategy | 0.1347* | 0.3701*** | 0.2228*** | 0.4285*** |
(1.82) | (5.75) | (2.94) | (6.35) | |
CL_Strategy | −0.3475*** | −0.4505*** | −0.3459*** | −0.3947*** |
(−4.70) | (−6.98) | (−4.51) | (−5.77) | |
SIZE | −0.1171*** | − 0.2340*** | − 0.1761*** | −0.2422*** |
(−4.05) | (−9.05) | (−5.77) | (−8.67) | |
LEV | −4.3432*** | −3.1322*** | −3.8661*** | −3.1823*** |
(−24.62) | (−19.86) | (−20.91) | (−18.88) | |
_cons | 7.6466*** | 8.6405*** | 9.0213*** | 8.9103*** |
(12.67) | (13.97) | (14.19) | (13.27) | |
Year | No | Yes | No | Yes |
Ind | No | Yes | No | Yes |
R-squared | 0.127 | 0.348 | 0.122 | 0.312 |
No. of obs. | 8386 | 8386 | 7602 | 7602 |