COMP

0.089***

(10.161)

−0.140***

(−17.002)

0.094***

(10.594)

0.031***

(3.325)

0.090***

(10.217)

AGE

−0.131***

(−14.408)

−0.106***

(−12.461)

−0.127*** (−13.944)

0.021**

(2.193)

−0.130*** (−14.369)

CF

0.064***

(6.809)

0.110***

(12.507)

0.061***

(6.381)

−0.008

(−0.807)

0.064***

(6.795)

PPE

−0.144***

(−16.469)

−0.228***

(−28.036)

−0.136*** (−15.169)

0.024***

(2.639)

−0.143*** (−16.420)

SOE

−0.004

(−0.480)

−0.133***

(−17.795)

0.001

(0.082)

0.012

(1.390)

−0.004***

(−0.455)

IND

control

control

control

control

control

YEAR

control

control

control

control

control

Adj_R2

0.114

0.228

0.115

0.018

0.114

D-W

1.953

1.408

1.958

1.992

1.954

F值

82.966***

189.196***

80.040***

12.518***

79.568***

N(样本量)

14,000

14,000

14,000

14,000

14,000