| VARIABLES | (1) 充足性 | (2) 结构合理性 |
| NCFO | 0.051*** |
|
| (4.10) |
| |
| NCFOPS | −0.524*** |
|
| (−6.82) |
| |
| MAIN |
| −0.262*** |
|
| (−7.79) | |
| ELSE |
| −0.318*** |
|
| (−3.57) | |
| SIZE | 0.246*** | 0.306*** |
| (17.14) | (44.14) | |
| ListedY | 0.005*** | 0.004*** |
| (3.07) | (2.66) | |
| ROA | 1.573*** | 1.646*** |
| (8.59) | (11.38) | |
| ROM | 0.250*** | 0.293*** |
| (4.18) | (5.60) | |
| GRTA | −0.169*** | −0.163*** |
| (−8.92) | (−9.92) | |
| DTA | 0.024*** | 0.023*** |
| (5.04) | (5.80) | |
| SUBS | 0.020*** | 0.011** |
| (3.54) | (2.27) | |
| Constant | −0.314* | −0.346** |
| (−1.93) | (−2.38) | |
| Observations | 13,707 | 17,474 |
| R-squared | 0.152 | 0.170 |
| F | 273.3 | 396.2 |