[Amel Kenthari]

Nick Cox Thank you Nick for your feedback and suggestion. Do you mean I need to remove some explanatory variables? If yes, based on which criteria should I do so? All my Xi are very important to my research. If you can suggest some good references regarding the simplification of models, I would be grateful. Thank you.

[Amel Kenthari]

Nick Cox I forgot to mention that this model, regarding ownership structure, has only 4 explanatory variables (HH_INDEX FAM_CONTR EMPLOYEE_OWNER INSTITU_OWNER). Also, I'm working with another model regarding the characteristics of board directors (It didn't have any outliers).