Variables Quantile Levels
  10th 20th 30th 40th 50th 60th 70th 80th 90th
CEOP 0.182** 0.127** 0.064* 0.114** 0.139** 0.207*** 0.074 0.145 0.288
(0.092) (0.059) (0.063) (0.051) (0.060) (0.073) (0.071) (0.109) (0.094)
BSIZE 0.061 0.018 0.010 -0.027 -0.015 -0.059 -0.026 0.001 0.069
(0.060) (0.038) (0.041) (0.033) (0.039) (0.047) (0.046) (0.071) (0.061)
FAGE -0.052*** -0.041*** -0.047*** -0.040*** -0.038*** -0.022 -0.032** -0.028 -0.010
(0.018) (0.012) (0.013) (0.010) (0.012) (0.015) (0.014) (0.022) (0.019)
FSIZE 0.017*** 0.013*** 0.007** 0.006** 0.005* 0.006 -0.002 -0.002 0.001
(0.005) (0.003) (0.004) (0.003) (0.003) (0.004) (0.004) (0.006) (0.005)
FLV -0.011 0.015 0.008 0.013 0.004 0.021 0.017 0.010 -0.015
(0.032) (0.020) (0.022) (0.018) (0.021) (0.025) (0.024) (0.038) (0.032)
COVID19 -0.064* -0.061*** -0.060*** -0.034* -0.020 -0.026 -0.022 0.024 -0.001
(0.036) (0.023) (0.025) (0.020) (0.023) (0.028) (0.027) (0.042) (0.036)
INDUSTRY Yes Yes Yes Yes Yes Yes Yes Yes Yes
Constant -0.130 0.011 0.170* 0.277*** 0.270*** 0.314*** 0.478*** 0.435*** 0.283**
(0.136) (0.087) (0.094) (0.075) (0.088) (0.108) (0.105) (0.162) (0.139)
Pseudo R2 0.188 0.171 0.159 0.151 0.156 0.152 0.140 0.133 0.195