MMJK technique

[Rupali Vashisht]

. xtset id

Panel variable: id (balanced)

. 
. 
. 
. set seed 123

. 
. g s=runiform()<0.5
variable s already defined
r(110);

. 
. 
. 
. bs, cluster(id) rep(20): xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA ICR GROWTH    LEV    lnMKTCAP    i.t
(running xtqreg on estimation sample)
WARNING: 1.9900498% of the fitted values of the scale function are not positive

Bootstrap replications (20): .........10.........20 done

Bootstrap results                                          Number of obs = 402
Replications  =  20

(Replications based on 67 clusters in id)

Observed   Bootstrap                         Normal-based
lnSPREAD  coefficient  std. err.      z    P>z     [95% conf. interval]

ESG    .1042956   .0347165     3.00   0.003     .0362525    .1723386
MATURITY_IN_YEARS           0  (omitted)
RATING           0  (omitted)
lnISSUESIZE           0  (omitted)
ROA   -.0280936   .0052645    -5.34   0.000    -.0384119   -.0177754
ICR    .0120381   .0040686     2.96   0.003     .0040639    .0200123
GROWTH   -.0037824   .0029164    -1.30   0.195    -.0094984    .0019335
LEV    .0127927   .0046965     2.72   0.006     .0035877    .0219976
lnMKTCAP   -.0762047   .0286668    -2.66   0.008    -.1323905   -.0200188

t 
2     .5513821   .0278471    19.80   0.000     .4968027    .6059614
3     .0436829    .055554     0.79   0.432    -.0652009    .1525667
4    -.0958948   .0707094    -1.36   0.175    -.2344827    .0426932
5    -.1909287    .075549    -2.53   0.011     -.339002   -.0428553
6     .1460688   .0678321     2.15   0.031     .0131204    .2790172


. 
. mat V=e(V)

. 
. matrix b=e(b_location)

. 
. matrix g=e(b_scale)

. 
. matrix Q50=e(q)

. 
. scalar N=e(N)

. 
. 
. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA ICR GROWTH LEV lnMKTCAP i.t if s==0     



MM-QR regression results
Number of obs = 199
WARNING: 2.5125628% of the fitted values of the scale function are not positive
.5 Quantile regression

Coefficient  Std. err.      z    P>z     [95% conf. interval]

ESG    .2515409   .0613034     4.10   0.000     .1313885    .3716933
MATURITY_IN_YEARS           0  (omitted)
RATING           0  (omitted)
lnISSUESIZE           0   35103.32     0.00   1.000    -68801.24    68801.24
ROA   -.0150663   .0106696    -1.41   0.158    -.0359782    .0058457
ICR    .0153956   .0057658     2.67   0.008     .0040948    .0266963
GROWTH   -.0096028   .0037398    -2.57   0.010    -.0169328   -.0022729
LEV    .0234749   .0058527     4.01   0.000     .0120038    .0349461
lnMKTCAP   -.1035034   .0791106    -1.31   0.191    -.2585574    .0515505

t 
2     .5683364   .0745813     7.62   0.000     .4221596    .7145131
3    -.1054839   .0995585    -1.06   0.289    -.3006149    .0896472
4    -.2697122    .120996    -2.23   0.026      -.50686   -.0325644
5    -.3852656   .1376914    -2.80   0.005    -.6551357   -.1153954
6     .0487684   .1160295     0.42   0.674    -.1786452    .2761819



. 
. scalar N0=e(N)

. 
. matrix Q050=e(q)

. 
. matrix g0=e(b_scale)

. 
. 
. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA ICR GROWTH LEV lnMKTCAP i.t if s==1      



MM-QR regression results
Number of obs = 203
WARNING: 5.4187192% of the fitted values of the scale function are not positive
.5 Quantile regression

Coefficient  Std. err.      z    P>z     [95% conf. interval]

ESG    .1105789   .0730302     1.51   0.130    -.0325577    .2537156
MATURITY_IN_YEARS           0  (omitted)
RATING           0  (omitted)
lnISSUESIZE           0   41616.34     0.00   1.000    -81566.53    81566.53
ROA   -.0332894    .012659    -2.63   0.009    -.0581005   -.0084782
ICR    .0057916   .0102622     0.56   0.573    -.0143219    .0259051
GROWTH    .0003493   .0021738     0.16   0.872    -.0039112    .0046098
LEV    .0030016   .0069255     0.43   0.665     -.010572    .0165752
lnMKTCAP   -.0505127   .0810601    -0.62   0.533    -.2093876    .1083621

t 
2     .4245002   .1167092     3.64   0.000     .1957545     .653246
3     .0396073   .1040884     0.38   0.704    -.1644022    .2436168
4    -.0852346   .1371361    -0.62   0.534    -.3540164    .1835471
5      -.21846   .1430045    -1.53   0.127    -.4987435    .0618236
6     .0738827   .1550519     0.48   0.634    -.2300134    .3777788



. 
. scalar N1=e(N)

. 
. matrix Q150=e(q)

. 
. matrix g1=e(b_scale)

. 
. mat bjk=b+(2*g-g1*(N1/N)-g0*(N0/N))*(2*Q50-Q150*(N1/N)-Q050*(N0/N)) 

. 
. ereturn post bjk V

. 
. ereturn display

Coefficient  Std. err.      z    P>z     [95% conf. interval]

ESG     .097211   .0347165     2.80   0.005     .0291679    .1652541
MATURITY_IN_YEARS           0  (omitted)
RATING           0  (omitted)
lnISSUESIZE           0  (omitted)
ROA   -.0281969   .0052645    -5.36   0.000    -.0385151   -.0178786
ICR    .0127317   .0040686     3.13   0.002     .0047574    .0207059
GROWTH    -.004097   .0029164    -1.40   0.160    -.0098129     .001619
LEV    .0134528   .0046965     2.86   0.004     .0042478    .0226577
lnMKTCAP   -.0741985   .0286668    -2.59   0.010    -.1303844   -.0180127

t 
2     .5482974   .0278471    19.69   0.000      .493718    .6028767
3     .0493426    .055554     0.89   0.374    -.0595412    .1582265
4    -.0916401   .0707094    -1.30   0.195     -.230228    .0469478
5    -.1892661    .075549    -2.51   0.012    -.3373394   -.0411927
6     .1589342   .0678321     2.34   0.019     .0259857    .2918826


.

[Rupali Vashisht]

                        
    Observed    Bootstrap            Normal    based
lnSPREAD    coefficient    std. err.    z    P>z    [95% conf.    interval]
                        
ESG    .1042956    .0347165    3.00    0.003    .0362525    .1723386
MATURITY_IN_YEARS    0    (omitted)
RATING    0    (omitted)
lnISSUESIZE    0    (omitted)
ROA    -.0280936    .0052645    -5.34    0.000    -.0384119    -.0177754
ICR    .0120381    .0040686    2.96    0.003    .0040639    .0200123
GROWTH    -.0037824    .0029164    -1.30    0.195    -.0094984    .0019335
LEV    .0127927    .0046965    2.72    0.006    .0035877    .0219976
lnMKTCAP    -.0762047    .0286668    -2.66    0.008    -.1323905    -.0200188
    
t    
2    .5513821    .0278471    19.80    0.000    .4968027    .6059614
3    .0436829    .055554    0.79    0.432    -.0652009    .1525667
4    -.0958948    .0707094    -1.36    0.175    -.2344827    .0426932
5    -.1909287    .075549    -2.53    0.011    -.339002    -.0428553
6    .1460688    .0678321    2.15    0.031    .0131204    .2790172

[Rupali Vashisht]

 

Observed
Bootstrap


Normal
based

lnSPREAD
coefficient
std. err.
z
P>z
[95% conf.
interval]









ESG
0.1042956
0.0347165
3
0.003
0.0362525
0.1723386

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0280936
0.0052645
-5.34
0
-0.0384119
-0.0177754

ICR
0.0120381
0.0040686
2.96
0.003
0.0040639
0.0200123

GROWTH
-0.0037824
0.0029164
-1.3
0.195
-0.0094984
0.0019335

LEV
0.0127927
0.0046965
2.72
0.006
0.0035877
0.0219976

lnMKTCAP
-0.0762047
0.0286668
-2.66
0.008
-0.1323905
-0.0200188









t







2
0.5513821
0.0278471
19.8
0
0.4968027
0.6059614

3
0.0436829
0.055554
0.79
0.432
-0.0652009
0.1525667

4
-0.0958948
0.0707094
-1.36
0.175
-0.2344827
0.0426932

5
-0.1909287
0.075549
-2.53
0.011
-0.339002
-0.0428553

6
0.1460688
0.0678321
2.15
0.031
0.0131204
0.2790172

[Rupali Vashisht]

 .bs, cluster(id) rep(20): xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA    ICR    GROWTH    LEV    lnMKTCAP    i.t
(running xtqreg on estimation sample)
WARNING: 1.9900498% of the fitted values of the scale function are not positive

Bootstrap replications (20): .........10.........20 done

Bootstrap results                                          Number of obs = 402
Replications  =  20

(Replications based on 67 clusters in id) 

Observed
Bootstrap


Normal
based

lnSPREAD
coefficient
std. err.
z
P>z
[95% conf.
interval]









ESG
0.1042956
0.0347165
3
0.003
0.0362525
0.1723386

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0280936
0.0052645
-5.34
0
-0.0384119
-0.0177754

ICR
0.0120381
0.0040686
2.96
0.003
0.0040639
0.0200123

GROWTH
-0.0037824
0.0029164
-1.3
0.195
-0.0094984
0.0019335

LEV
0.0127927
0.0046965
2.72
0.006
0.0035877
0.0219976

lnMKTCAP
-0.0762047
0.0286668
-2.66
0.008
-0.1323905
-0.0200188









t







2
0.5513821
0.0278471
19.8
0
0.4968027
0.6059614

3
0.0436829
0.055554
0.79
0.432
-0.0652009
0.1525667

4
-0.0958948
0.0707094
-1.36
0.175
-0.2344827
0.0426932

5
-0.1909287
0.075549
-2.53
0.011
-0.339002
-0.0428553

6
0.1460688
0.0678321
2.15
0.031
0.0131204
0.2790172


mat V=e(V)

. matrix b=e(b_location)

. matrix g=e(b_scale)

. matrix Q50=e(q)

. scalar N=e(N)

. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA    ICR    GROWTH LEV lnMKTCAP    i.t    if    s==0     



MM-QR regression results
Number of obs = 199
WARNING: 2.5125628% of the fitted values of the scale function    are    not positive
.5 Quantile regression 

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.2515409
0.0613034
4.1
0
0.1313885
0.3716933

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
35103.32
0
1
-68801.24
68801.24

ROA
-0.0150663
0.0106696
-1.41
0.158
-0.0359782
0.0058457

ICR
0.0153956
0.0057658
2.67
0.008
0.0040948
0.0266963

GROWTH
-0.0096028
0.0037398
-2.57
0.01
-0.0169328
-0.0022729

LEV
0.0234749
0.0058527
4.01
0
0.0120038
0.0349461

lnMKTCAP
-0.1035034
0.0791106
-1.31
0.191
-0.2585574
0.0515505









t







2
0.5683364
0.0745813
7.62
0
0.4221596
0.7145131

3
-0.1054839
0.0995585
-1.06
0.289
-0.3006149
0.0896472

4
-0.2697122
0.120996
-2.23
0.026
-0.50686
-0.0325644

5
-0.3852656
0.1376914
-2.8
0.005
-0.6551357
-0.1153954

6
0.0487684
0.1160295
0.42
0.674
-0.1786452
0.2761819


scalar N0=e(N)

. matrix Q050=e(q)

. matrix g0=e(b_scale)

. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA    ICR    GROWTH LEV lnMKTCAP    i.t    if    s==1      



MM-QR regression results
Number of obs = 203
WARNING: 5.4187192% of the fitted values of the scale function    are    not positive
.5 Quantile regression
  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.1105789
0.0730302
1.51
0.13
-0.0325577
0.2537156

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
41616.34
0
1
-81566.53
81566.53

ROA
-0.0332894
0.012659
-2.63
0.009
-0.0581005
-0.0084782

ICR
0.0057916
0.0102622
0.56
0.573
-0.0143219
0.0259051

GROWTH
0.0003493
0.0021738
0.16
0.872
-0.0039112
0.0046098

LEV
0.0030016
0.0069255
0.43
0.665
-0.010572
0.0165752

lnMKTCAP
-0.0505127
0.0810601
-0.62
0.533
-0.2093876
0.1083621









t







2
0.4245002
0.1167092
3.64
0
0.1957545
0.653246

3
0.0396073
0.1040884
0.38
0.704
-0.1644022
0.2436168

4
-0.0852346
0.1371361
-0.62
0.534
-0.3540164
0.1835471

5
-0.21846
0.1430045
-1.53
0.127
-0.4987435
0.0618236

6
0.0738827
0.1550519
0.48
0.634
-0.2300134
0.3777788



scalar N1=e(N)

. matrix Q150=e(q)

. matrix g1=e(b_scale)

. mat bjk=b+(2*g-g1*(N1/N)-g0*(N0/N))*(2*Q50-Q150*(N1/N)-Q050*(N0/N)) 

. ereturn post bjk V

. ereturn display
  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.097211
0.0347165
2.8
0.005
0.0291679
0.1652541

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0281969
0.0052645
-5.36
0
-0.0385151
-0.0178786

ICR
0.0127317
0.0040686
3.13
0.002
0.0047574
0.0207059

GROWTH
-0.004097
0.0029164
-1.4
0.16
-0.0098129
0.001619

LEV
0.0134528
0.0046965
2.86
0.004
0.0042478
0.0226577

lnMKTCAP
-0.0741985
0.0286668
-2.59
0.01
-0.1303844
-0.0180127









t







2
0.5482974
0.0278471
19.69
0
0.493718
0.6028767

3
0.0493426
0.055554
0.89
0.374
-0.0595412
0.1582265

4
-0.0916401
0.0707094
-1.3
0.195
-0.230228
0.0469478

5
-0.1892661
0.075549
-2.51
0.012
-0.3373394
-0.0411927

6
0.1589342
0.0678321
2.34
0.019
0.0259857
0.2918826


.
end    of    do-file

[Rupali Vashisht]

 .bs, cluster(id) rep(20): xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA    ICR    GROWTH    LEV    lnMKTCAP    i.t
(running xtqreg on estimation sample)
WARNING: 1.9900498% of the fitted values of the scale function are not positive

Bootstrap replications (20): .........10.........20 done

Bootstrap results                                          Number of obs = 402
Replications  =  20

(Replications based on 67 clusters in id)

  

Observed
Bootstrap


Normal
based

lnSPREAD
coefficient
std. err.
z
P>z
[95% conf.
interval]









ESG
0.1042956
0.0347165
3
0.003
0.0362525
0.1723386

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0280936
0.0052645
-5.34
0
-0.0384119
-0.0177754

ICR
0.0120381
0.0040686
2.96
0.003
0.0040639
0.0200123

GROWTH
-0.0037824
0.0029164
-1.3
0.195
-0.0094984
0.0019335

LEV
0.0127927
0.0046965
2.72
0.006
0.0035877
0.0219976

lnMKTCAP
-0.0762047
0.0286668
-2.66
0.008
-0.1323905
-0.0200188









t







2
0.5513821
0.0278471
19.8
0
0.4968027
0.6059614

3
0.0436829
0.055554
0.79
0.432
-0.0652009
0.1525667

4
-0.0958948
0.0707094
-1.36
0.175
-0.2344827
0.0426932

5
-0.1909287
0.075549
-2.53
0.011
-0.339002
-0.0428553

6
0.1460688
0.0678321
2.15
0.031
0.0131204
0.2790172


mat V=e(V)

. matrix b=e(b_location)

. matrix g=e(b_scale)

. matrix Q50=e(q)

. scalar N=e(N)

. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA    ICR    GROWTH LEV lnMKTCAP    i.t    if    s==0     



MM-QR regression results
Number of obs = 199
WARNING: 2.5125628% of the fitted values of the scale function    are    not positive
.5 Quantile regression
  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.2515409
0.0613034
4.1
0
0.1313885
0.3716933

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
35103.32
0
1
-68801.24
68801.24

ROA
-0.0150663
0.0106696
-1.41
0.158
-0.0359782
0.0058457

ICR
0.0153956
0.0057658
2.67
0.008
0.0040948
0.0266963

GROWTH
-0.0096028
0.0037398
-2.57
0.01
-0.0169328
-0.0022729

LEV
0.0234749
0.0058527
4.01
0
0.0120038
0.0349461

lnMKTCAP
-0.1035034
0.0791106
-1.31
0.191
-0.2585574
0.0515505









t







2
0.5683364
0.0745813
7.62
0
0.4221596
0.7145131

3
-0.1054839
0.0995585
-1.06
0.289
-0.3006149
0.0896472

4
-0.2697122
0.120996
-2.23
0.026
-0.50686
-0.0325644

5
-0.3852656
0.1376914
-2.8
0.005
-0.6551357
-0.1153954

6
0.0487684
0.1160295
0.42
0.674
-0.1786452
0.2761819


scalar N0=e(N)

. matrix Q050=e(q)

. matrix g0=e(b_scale)

. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA    ICR    GROWTH LEV lnMKTCAP    i.t    if    s==1      



MM-QR regression results
Number of obs = 203
WARNING: 5.4187192% of the fitted values of the scale function    are    not positive
.5 Quantile regression

  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.1105789
0.0730302
1.51
0.13
-0.0325577
0.2537156

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
41616.34
0
1
-81566.53
81566.53

ROA
-0.0332894
0.012659
-2.63
0.009
-0.0581005
-0.0084782

ICR
0.0057916
0.0102622
0.56
0.573
-0.0143219
0.0259051

GROWTH
0.0003493
0.0021738
0.16
0.872
-0.0039112
0.0046098

LEV
0.0030016
0.0069255
0.43
0.665
-0.010572
0.0165752

lnMKTCAP
-0.0505127
0.0810601
-0.62
0.533
-0.2093876
0.1083621









t







2
0.4245002
0.1167092
3.64
0
0.1957545
0.653246

3
0.0396073
0.1040884
0.38
0.704
-0.1644022
0.2436168

4
-0.0852346
0.1371361
-0.62
0.534
-0.3540164
0.1835471

5
-0.21846
0.1430045
-1.53
0.127
-0.4987435
0.0618236

6
0.0738827
0.1550519
0.48
0.634
-0.2300134
0.3777788



scalar N1=e(N)

. matrix Q150=e(q)

. matrix g1=e(b_scale)

. mat bjk=b+(2*g-g1*(N1/N)-g0*(N0/N))*(2*Q50-Q150*(N1/N)-Q050*(N0/N)) 

. ereturn post bjk V

. ereturn display

  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.097211
0.0347165
2.8
0.005
0.0291679
0.1652541

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0281969
0.0052645
-5.36
0
-0.0385151
-0.0178786

ICR
0.0127317
0.0040686
3.13
0.002
0.0047574
0.0207059

GROWTH
-0.004097
0.0029164
-1.4
0.16
-0.0098129
0.001619

LEV
0.0134528
0.0046965
2.86
0.004
0.0042478
0.0226577

lnMKTCAP
-0.0741985
0.0286668
-2.59
0.01
-0.1303844
-0.0180127









t







2
0.5482974
0.0278471
19.69
0
0.493718
0.6028767

3
0.0493426
0.055554
0.89
0.374
-0.0595412
0.1582265

4
-0.0916401
0.0707094
-1.3
0.195
-0.230228
0.0469478

5
-0.1892661
0.075549
-2.51
0.012
-0.3373394
-0.0411927

6
0.1589342
0.0678321
2.34
0.019
0.0259857
0.2918826


.
end    of    do-file

[Rupali Vashisht]

 .bs, cluster(id) rep(20): xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA ICR GROWTH LEV lnMKTCAP i.t
(running xtqreg on estimation sample)
WARNING: 1.9900498% of the fitted values of the scale function are not positive

Bootstrap replications (20): .........10.........20 done

Bootstrap results                                          Number of obs = 402
Replications  =  20

(Replications based on 67 clusters in id)

  

Observed
Bootstrap


Normal
based

lnSPREAD
coefficient
std. err.
z
P>z
[95% conf.
interval]









ESG
0.1042956
0.0347165
3
0.003
0.0362525
0.1723386

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0280936
0.0052645
-5.34
0
-0.0384119
-0.0177754

ICR
0.0120381
0.0040686
2.96
0.003
0.0040639
0.0200123

GROWTH
-0.0037824
0.0029164
-1.3
0.195
-0.0094984
0.0019335

LEV
0.0127927
0.0046965
2.72
0.006
0.0035877
0.0219976

lnMKTCAP
-0.0762047
0.0286668
-2.66
0.008
-0.1323905
-0.0200188









t







2
0.5513821
0.0278471
19.8
0
0.4968027
0.6059614

3
0.0436829
0.055554
0.79
0.432
-0.0652009
0.1525667

4
-0.0958948
0.0707094
-1.36
0.175
-0.2344827
0.0426932

5
-0.1909287
0.075549
-2.53
0.011
-0.339002
-0.0428553

6
0.1460688
0.0678321
2.15
0.031
0.0131204
0.2790172


mat V=e(V)

. matrix b=e(b_location)

. matrix g=e(b_scale)

. matrix Q50=e(q)

. scalar N=e(N)

. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA ICR GROWTH LEV lnMKTCAP i.t if s==0     



MM-QR regression results
Number of obs = 199
WARNING: 2.5125628% of the fitted values of the scale function    are    not positive
.5 Quantile regression
  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.2515409
0.0613034
4.1
0
0.1313885
0.3716933

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
35103.32
0
1
-68801.24
68801.24

ROA
-0.0150663
0.0106696
-1.41
0.158
-0.0359782
0.0058457

ICR
0.0153956
0.0057658
2.67
0.008
0.0040948
0.0266963

GROWTH
-0.0096028
0.0037398
-2.57
0.01
-0.0169328
-0.0022729

LEV
0.0234749
0.0058527
4.01
0
0.0120038
0.0349461

lnMKTCAP
-0.1035034
0.0791106
-1.31
0.191
-0.2585574
0.0515505









t







2
0.5683364
0.0745813
7.62
0
0.4221596
0.7145131

3
-0.1054839
0.0995585
-1.06
0.289
-0.3006149
0.0896472

4
-0.2697122
0.120996
-2.23
0.026
-0.50686
-0.0325644

5
-0.3852656
0.1376914
-2.8
0.005
-0.6551357
-0.1153954

6
0.0487684
0.1160295
0.42
0.674
-0.1786452
0.2761819


scalar N0=e(N)

. matrix Q050=e(q)

. matrix g0=e(b_scale)

. 
. xtqreg lnSPREAD ESG MATURITY_IN_YEARS RATING lnISSUESIZE ROA ICR GROWTH LEV lnMKTCAP i.t if s==1      



MM-QR regression results
Number of obs = 203
WARNING: 5.4187192% of the fitted values of the scale function    are    not positive
.5 Quantile regression

  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.1105789
0.0730302
1.51
0.13
-0.0325577
0.2537156

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
41616.34
0
1
-81566.53
81566.53

ROA
-0.0332894
0.012659
-2.63
0.009
-0.0581005
-0.0084782

ICR
0.0057916
0.0102622
0.56
0.573
-0.0143219
0.0259051

GROWTH
0.0003493
0.0021738
0.16
0.872
-0.0039112
0.0046098

LEV
0.0030016
0.0069255
0.43
0.665
-0.010572
0.0165752

lnMKTCAP
-0.0505127
0.0810601
-0.62
0.533
-0.2093876
0.1083621









t







2
0.4245002
0.1167092
3.64
0
0.1957545
0.653246

3
0.0396073
0.1040884
0.38
0.704
-0.1644022
0.2436168

4
-0.0852346
0.1371361
-0.62
0.534
-0.3540164
0.1835471

5
-0.21846
0.1430045
-1.53
0.127
-0.4987435
0.0618236

6
0.0738827
0.1550519
0.48
0.634
-0.2300134
0.3777788



scalar N1=e(N)

. matrix Q150=e(q)

. matrix g1=e(b_scale)

. mat bjk=b+(2*g-g1*(N1/N)-g0*(N0/N))*(2*Q50-Q150*(N1/N)-Q050*(N0/N)) 

. ereturn post bjk V

. ereturn display

  

Coefficient
Std. err.
z
P>z
[95% conf.
interval]









ESG
0.097211
0.0347165
2.8
0.005
0.0291679
0.1652541

MATURITY_IN_YEARS
0
(omitted)





RATING
0
(omitted)





lnISSUESIZE
0
(omitted)





ROA
-0.0281969
0.0052645
-5.36
0
-0.0385151
-0.0178786

ICR
0.0127317
0.0040686
3.13
0.002
0.0047574
0.0207059

GROWTH
-0.004097
0.0029164
-1.4
0.16
-0.0098129
0.001619

LEV
0.0134528
0.0046965
2.86
0.004
0.0042478
0.0226577

lnMKTCAP
-0.0741985
0.0286668
-2.59
0.01
-0.1303844
-0.0180127









t







2
0.5482974
0.0278471
19.69
0
0.493718
0.6028767

3
0.0493426
0.055554
0.89
0.374
-0.0595412
0.1582265

4
-0.0916401
0.0707094
-1.3
0.195
-0.230228
0.0469478

5
-0.1892661
0.075549
-2.51
0.012
-0.3373394
-0.0411927

6
0.1589342
0.0678321
2.34
0.019
0.0259857
0.2918826


.
end    of    do-file