| 变量 | 全部样本 | 沪深港通标的 | 非沪深港通标的 |
| EFD | 0.001*** (8.607) | 0.000309 (1.829) | 0.001*** (6.775) |
| ROA | 0.991*** (974.267) | 0.829*** (120.973) | 0.993*** (966.994) |
| Lev | −0.004 (−1.635) | 0.011 (1.109) | −0.004 (−1.658) |
| Comp | −0.005*** (−6.540) | −8.034E−5 (−0.047) | −0.005*** (−5.740) |
| Size | 0.005*** (8.406) | 0.002 (1.195) | 0.005*** (8.241) |
| Invent | 0.013* (2.395) | −0.012 (−0.792) | 0.012* (1.975) |
| SA | −0.004 (−1.515) | −0.002 (−0.288) | −0.005 (−1.741) |
| ROI | 0.001 (0.127) | 0.172*** (5.349) | 0.001 (0.123) |
| PPE | 0.005 (1.210) | −0.003 (−0.321) | 0.000461 (0.098) |
| INDIR | −0.010 (−0.863) | 0.023 (0.787) | −0.017 (−1.294) |
| Observations | 19111 | 2732 | 16379 |
| R-squared | 0.987 | 0.875 | 0.989 |