| (1) | (2) |
| GMM1 | GMM2 |
L.ROA | 0.748*** | 1.271*** |
| (0.0725) | (0.0664) |
EID_Whether | 0.000822*** |
|
| (0.00119) |
|
EID_Quality |
| 0.0162*** |
|
| (0.00513) |
_cons | 0.0111*** | 0.0166*** |
| (0.00372) | (0.00475) |
N | 4200 | 4200 |
AR(1) | −8.26*** | −7.86*** |
AR(2) | 2.19 | 2.35 |
Sargan 检验 | 74.66 | 70.98 |