Table 11 Regression results using PSM... | Emerald Publishing

Table 11

Regression results using PSM

Variable	(1)
Variable	Abtone
D&O	0.006^*
D&O	(1.75)
Size	0.003^*
Size	(1.95)
Growth	−0.003^**
Growth	(−2.22)
Dir	0.045^*
Dir	(1.68)
Top1	0.028^**
Top1	(2.20)
ROE	−0.034^**
ROE	(−2.55)
Loss	−0.008
Loss	(−1.20)
OCF	−0.014
OCF	(−0.52)
LR	−0.005^***
LR	(−3.77)
Dual	0.007
Dual	(1.39)
B/M	−0.008^***
B/M	(−4.81)
Board	−0.016^*
Board	(−1.66)
_cons	−0.069
_cons	(−1.53)
Year	Yes
Industry	Yes
N	3872.000
r2_a	0.129

Variable	(1)
Variable	Abtone
D&O	0.006^*
D&O	(1.75)
Size	0.003^*
Size	(1.95)
Growth	−0.003^**
Growth	(−2.22)
Dir	0.045^*
Dir	(1.68)
Top1	0.028^**
Top1	(2.20)
ROE	−0.034^**
ROE	(−2.55)
Loss	−0.008
Loss	(−1.20)
OCF	−0.014
OCF	(−0.52)
LR	−0.005^***
LR	(−3.77)
Dual	0.007
Dual	(1.39)
B/M	−0.008^***
B/M	(−4.81)
Board	−0.016^*
Board	(−1.66)
_cons	−0.069
_cons	(−1.53)
Year	Yes
Industry	Yes
N	3872.000
r2_a	0.129

Note(s): ^***, ^**, and ^* denote statistical significance at the 1%, 5%, and 10% levels, respectively Numbers in parentheses are the t-values

Source(s): Table by authors