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I. Activity and S. Sd_roe, ) (0.392) (0.639) (0.765) NL_TA -0, p.185

I. Activity, S. Sd_roe-log_z-log_zp, and . Firm_eq, ) (0.786) (0.590) (0.328) NONINT 0, p.253

I. Activity and S. Sd_roe, ) (0.475) (0.117) (0.328) NL_TA 0, p.202

S. Sd_roe and L. , Table 14000) (0.001) PROP_LHT -0.00310 *** -0.0553 *** 0.0107 *** 0.0111 *** (0.003) (0.001) (0.004) (0.004) EXPOS1 -0.000716 -0.0261 -0, Activity risk Insolvency risk, p.864

S. Sd_roe and L. , Table 15) (0.909) (0.163) (0.143) EXPOS1 -0.00519 -0.0601 -0.0134 -0.0141 (0.649) (0.496) (0.604) (0.591) NL_TA -0.0391 -0, Activity risk Insolvency risk, p.205

O. Final-estimation-method, . Ols, . Ols, and . Iv, P-values): Endogeneity : PROP_CONTR 0