(1) | (2) | (3) | |
---|---|---|---|
HSSC | DailySprd1 | DailySprd2 | |
HSSC | 0.0017*** | 0.0015*** | |
(8.63) | (8.53) | ||
Size | 0.7458*** | 0.0026*** | 0.0022*** |
(18.84) | (12.93) | (11.79) | |
Lev | − 1.1979*** | − 0.0064*** | − 0.0055*** |
(− 7.77) | (− 11.43) | (− 10.69) | |
ROA | 2.0450*** | 0.0064*** | 0.0050*** |
(4.03) | (3.18) | (2.77) | |
Cash_vol | − 0.0428* | − 0.0003*** | − 0.0002*** |
(− 1.68) | (− 3.10) | (− 2.87) | |
Loss | 0.0850 | 0.0008** | 0.0007** |
(1.03) | (2.56) | (2.47) | |
Age | 0.2633*** | 0.0006*** | 0.0005*** |
(7.00) | (4.19) | (3.53) | |
Opinion | 0.0357 | − 0.0000 | − 0.0001 |
(0.27) | (− 0.03) | (− 0.31) | |
Analyst | 0.1250*** | − 0.0011*** | − 0.0012*** |
(5.36) | (− 11.83) | (− 13.62) | |
Turnover | 0.0084 | − 0.0008*** | − 0.0007*** |
(1.61) | (− 37.70) | (− 37.97) | |
IMR | 0.0001 | − 0.0002 | |
(0.28) | (− 0.66) | ||
_cons | − 23.6797*** | − 0.0944*** | − 0.0793*** |
(− 29.54) | (− 15.25) | (− 14.04) | |
Industry | Yes | Yes | Yes |
Year | Yes | Yes | Yes |
N | 10,511 | 10,511 | 10,511 |
adj. R2 | 0.404 | 0.801 | 0.803 |