Table 7 Blockchain and corporate debt financing.
From: Opportunity or opportunism? Blockchain technology adoption and corporate default risk
DT | LT | ST | |
|---|---|---|---|
(1) | (2) | (3) | |
Blockchain | 0.003* | −0.002** | 0.005*** |
(1.946) | (−2.166) | (3.904) | |
Size | −0.000 | 0.011*** | −0.012*** |
(−0.682) | (22.668) | (−19.219) | |
Lev | 0.441*** | 0.122*** | 0.311*** |
(88.999) | (39.345) | (71.648) | |
Roa | −0.374*** | −0.088*** | −0.287*** |
(−21.763) | (−8.193) | (−19.216) | |
Cash | −0.108*** | −0.036*** | −0.075*** |
(−16.672) | (−9.642) | (−13.491) | |
Fixed | 0.117*** | 0.089*** | 0.027*** |
(23.173) | (22.012) | (6.243) | |
Growth | −0.240* | 0.348*** | −0.575*** |
(−1.687) | (3.515) | (−4.767) | |
Soe | −0.023*** | −0.003*** | −0.020*** |
(−14.775) | (−2.880) | (−14.151) | |
Dual | −0.023*** | −0.019*** | −0.003 |
(−2.878) | (−3.337) | (−0.347) | |
Hold1 | −0.035*** | −0.013*** | −0.022*** |
(−7.964) | (−3.775) | (−5.688) | |
Firmage | −0.006*** | −0.002*** | −0.004*** |
(−6.196) | (−3.087) | (−4.376) | |
_cons | 0.093*** | −0.249*** | 0.342*** |
(6.414) | (−24.380) | (27.997) | |
Year FE | YES | YES | YES |
Industry FE | YES | YES | YES |
N | 22,567 | 22,567 | 22,567 |
Adj R2 | 0.570 | 0.397 | 0.417 |
