Lev

−0.681^***

−0.538^***

[−6.012]

[−4.191]

Big4

0.107^***

0.104^***

[3.561]

[3.398]

Amount

0.0805^***

0.0745^***

[3.985]

[3.613]

_cons

−2.298^***

−2.568^***

[−7.601]

[−7.995]

Year

未控制

控制

Industry

未控制

控制

adj.R²

0.417

0.440

N

978

978