Table 1.
Variable definitions.
Table 2.
Descriptive statistics of main variables.
Fig 1.
Fig 2.
SHAP Summary Plot.
Fig 3.
Main effect of TI.
Fig 4.
Interaction effect between TI and Age.
Fig 5.
Interaction effect between TI and CEO_shareholding.
Fig 6.
SHAP Feature Importance.
Fig 7.
SHAP Summary Plot.
Fig 8.
Main effect of TI.
Fig 9.
Interaction effect between TI and size.
Fig 10.
Interaction effect between TI and Lev.
Table 3.
Result of regression.
Table 4.
Replace explanatory variables.
Table 5.
Logit model.
Table 6.
control for industry fixed effects.
Table 7.
Control for CEO age.
Table 8.
Lagged dependent variable.
Table 9.
Propensity score matching.