Table 6. Robustness check using... | Emerald Publishing

Table 6.

Robustness check using alternative DT measure

DROP	S. PRICE_DROP	REBOUND	S. PRICE_REB
${D T}_{i t}$	−0.019*	${D T}_{i t}$	−0.116
${D_P E R I O D}_{i t}$	0.372
${{D T}_{i t} \times D R O P_P R D}_{t}$	−0.121*
${L I M I T E D}_{i}$		${L I M I T E D}_{i}$
${D E B T}_{i t - 1}$	0.005	${D E B T}_{i t - 1}$	−0.029
${C A S H F L O W}_{i t - 1}$		${C A S H F L O W}_{i t - 1}$
${D Q}_{i t - 1}$		${D Q}_{i t - 1}$
${M K T_S H A R E}_{i t - 1}$		${M K T_S H A R E}_{i t - 1}$
${D_D I V I D E N D}_{i t - 1}$	0.026	${D_D I V I D E N D}_{i t - 1}$	−0.081
${R E P}_{i t - 1}$	−0.003	${R E P}_{i t - 1}$	0.009
${A S S E T}_{i t - 1}$	0.001	${A S S E T}_{i t - 1}$	0.067
$C o n s t a n t$	−0.196	$C o n s t a n t$	−0.434
N	539	N	92
Cluster	21	Cluster	21
$R^{2}$	0.305	$R^{2}$	0.440

Note(s):

*p < 0.10, **p < 0.05, ***p < 0.01, ****p < 0.001

Source(s): Developed by authors