模型4

系数

标准差

t值

p值

常数项

125.6275

123.1742

1.019918

0.3078

Ln(NIt-1)

0.082846***

0.007712

10.74200

0.0000

State-Owned*Ln(NIt-1)

−0.172962***

0.052399

−3.300864

0.0010

LnSize

0.089582***

0.016365

5.474113

0.0000

Lev

0.001525

0.011210

0.136054

0.8918

Board

−18.15380

21.02454

−0.863457

0.3879

Indd

−29.33186

21.10253

−1.389969

0.1646

Lsh

−1.52441*

0.35716

−4.26812

0.0029

Dual

1.666232

3.686146

0.452026

0.6513