| (1) | (2) | (3) |
| ROE | ROE | ROE |
Econ1 | 0.027*** |
| 0.022*** |
| (15.99) |
| (13.63) |
ICQ |
| 0.000*** | 0.000*** |
|
| (25.59) | (25.05) |
Size | 0.027*** | 0.025*** | 0.020*** |
| (21.48) | (24.34) | (16.85) |
Debt | −0.302*** | −0.257*** | −0.246*** |
| (−30.29) | (−29.24) | (−27.69) |
Y1 | 0.086*** | 0.070*** | 0.066*** |
| (25.60) | (22.13) | (20.51) |
_cons | −0.873*** | −0.662*** | −0.843*** |
| (−32.64) | (−28.87) | (−33.78) |
年度效应 | 控制 | 控制 | 控制 |
行业效应 | 控制 | 控制 | 控制 |
N | 20,733 | 20,733 | 20,733 |
adj. R2 | 0.206 | 0.279 | 0.286 |
F | 79.668 | 83.270 | 95.158 |