变量

非注册制(Reg = 0)

注册制(Reg = 1)

均值差异

T值

样本量

均值

样本量

均值

SYNCH

11,446

−0.788

696

−1.315

0.527^***

13.037

Analyst

11,446

2.458

696

2.350

0.108^**

2.309

Follow

11,446

1.992

696

1.901

0.091^**

2.456

Size

11,446

4.085

696

3.201

0.884^***

20.175

Growth

11,446

0.175

696

0.284

−0.109^***

−8.973

Lev

11,446

0.432

696

0.284

0.148^***

20.487

INSH

11,446

0.410

696

0.370

0.041^***

4.270

BM

11,446

0.404

696

0.201

0.203^***

20.216

Dual

11,446

0.297

696

0.534

−0.237^***

−13.223

Volatility

11,446

9.187

696

7.299

1.888^***

16.123