This table reports robustness tests addressing the high concentration of zero observations in EIS. Models (1) and (2) employ Tobit regression with left-censoring at zero, while Models (3) and (4) are estimated using only observations with positive EIS values (non-zero EIS subsample). All models include clustered robust standard errors at the firm level, as well as year and industry fixed effects. DV = dependent variable. The t-statistics are reported in parentheses. Superscripts *, **, and *** indicate statistical significance at the 10, 5 and 1% levels, respectively. Table 2 provides variable definitions