	(1)	(2)	(3)
VARIABLES	vol_m	impvol_m	cds_m
			
bhck7204_inv	2.789***	3.053***	6.388***
	[0.00941]	[0.0128]	[0.0383]
			
Observations	6,457	6,373	6,457
Adjusted R-squared	0.932	0.899	0.811
Standard errors in brackets			
*** p<0.01, ** p<0.05, * p<0.1			
