Panel B: Regression Testb
(1) (2) (3)
Intercept 2.85 (0.25)*** 2.47 (0.27)*** 2.45 (0.24)***
# FIN 0.01 (0.03)
# NONFIN 0.03 (0.02)*
# SUBJ 0.13 (0.04)***
# TOTAL 0.02 (0.01)**
C DIVERSITY 0.23 (0.06)***
QUALSTRAT 0.23 (0.13)* 0.15 (0.08)** 0.34 (0.11)***
SIZEc 5 4
10 10 1.4 (1.2 ) 5 3 10 10 3.5 (1.2 ) 6 4
10 10 5.9 (1.1 )
F 3.97***
Adj. R2 0.08
F 5.22***
Adj. R2 0.16
F 9.22***
Adj. R2 0.18