honesty		
	(1)	(2)
VARIABLES	guarantee	guarantee
		
honesty	0.0179**	0.0440***
	(0.0069)	(0.0144)
honestyXissuerrating		-0.0091**
		(0.0043)
tax	-0.0048*	-0.0049*
	(0.0025)	(0.0025)
shrlaborincome	0.0014	0.0013
	(0.0042)	(0.0041)
education	-0.0007	-0.0007
	(0.0014)	(0.0014)
innoinput	-0.0020	-0.0019
	(0.0026)	(0.0026)
innooutput	0.0005	0.0005
	(0.0012)	(0.0012)
lawfulness	-0.0066**	-0.0066**
	(0.0027)	(0.0027)
donation	-0.0003	-0.0003
	(0.0011)	(0.0011)
newemployment	-0.0000	0.0000
	(0.0019)	(0.0019)
interdepth	-0.0016	-0.0016
	(0.0019)	(0.0019)
interwidth	0.0016	0.0016
	(0.0013)	(0.0013)
ississuerrating_value	-0.1133*	0.7963*
	(0.0651)	(0.4344)
Constant	-0.4096	-3.0036*
	(1.4533)	(1.7924)
		
Observations	434	434
R-squared	0.4161	0.4181
Controls	Yes	Yes
Province FE	Yes	Yes
Industry FE	Yes	Yes
Year FE	Yes	Yes
RatingAgency	Yes	Yes
Adjusted R-Squared	0.296	0.296
Robust standard errors in parentheses		
*** p<0.01, ** p<0.05, * p<0.1		
