(1) Probit Full sample | (2) Logit Full sample | (3) Probit Subsample | (4) Logit Subsample | |
---|---|---|---|---|
Variable | Jump | Jump | Jump | Jump |
CAM_TREATt-1 | 0.322a | 0.630a | 0.685 | 1.346 |
(0.183) | (0.329) | (0.598) | (0.985) | |
CAM_YEARt-1 | 0.610c | 1.149c | 0.672c | 1.265c |
(0.0700) | (0.134) | (0.186) | (0.356) | |
TREAT·YEARt-1 | −0.0933 | − 0.268 | − 1.236 | −2.227 |
(0.240) | (0.413) | (0.872) | (1.497) | |
Sizet-1 | 0.120c | 0.218c | 0.248c | 0.411b |
(0.0332) | (0.0612) | (0.0961) | (0.173) | |
ABS_DAt-1 | −0.899b | −1.484a | −1.079 | − 1.822 |
(0.426) | (0.797) | (1.140) | (2.110) | |
ROAt-1 | 0.969 | 1.643 | 1.290 | 1.837 |
(0.603) | (1.126) | (1.798) | (3.237) | |
Levt-1 | −0.257 | −0.471 | − 0.529 | − 1.003 |
(0.179) | (0.333) | (0.557) | (1.029) | |
Dturnt-1 | 0.0791b | 0.140b | −0.109 | − 0.174 |
(0.0345) | (0.0622) | (0.112) | (0.206) | |
StdWt-1 | −1.384 | −2.454 | −2.903 | −5.363 |
(1.424) | (2.607) | (3.519) | (6.461) | |
MBt-1 | 0.0437b | 0.0823c | 0.131c | 0.238c |
(0.0174) | (0.0315) | (0.0460) | (0.0825) | |
SOEt-1 | 0.0607 | 0.104 | 0.556b | 0.970b |
(0.0616) | (0.114) | (0.222) | (0.386) | |
Top1t-1 | 0.000107 | 0.000254 | 0.00245 | 0.00607 |
(0.00189) | (0.00352) | (0.00513) | (0.00973) | |
Independentt-1 | −0.590 | −1.001 | −0.615 | −1.309 |
(0.510) | (0.945) | (1.117) | (2.103) | |
Constant | −4.165c | −7.457c | −6.728c | −11.31c |
(0.752) | (1.398) | (2.191) | (3.943) | |
IND | Yes | Yes | Yes | Yes |
No. of obs. | 3964 | 3964 | 691 | 691 |