Table 6 Robustness test results.
Variables | (1) | (2) | (3) |
|---|---|---|---|
Resilience | Resilience | Resilience | |
L.BE | 0.055* | ||
(1.84) | |||
BE | 0.087*** | ||
(2.62) | |||
BE2 | 0.063** | ||
(2.51) | |||
Controls/ Year /Industry | Y | Y | Y |
_cons | −0.292*** | −0.474*** | −0.463*** |
(−3.22) | (−6.03) | (−5.75) | |
Number of observations | 16878 | 21142 | 21142 |
Adj R2 | 0.303 | 0.294 | 0.292 |
