| 变量 | 回归1 | 回归2 | 回归3 |
| Media | 0.000258*** | 0.000499*** | 0.150000*** |
| (0.000150) | (0.000079) | (0.015100) | |
| Lev | −0.000372 | −0.000653*** | −0.040900 |
| (0.000261) | (0.000157) | (0.029800) | |
| ROE | 0.000876** | 0.000385*** | 0.050000* |
| (0.000401) | (0.000139) | (0.026500) | |
| Growth | −0.000015 | −0.000011 | −0.003010 |
| (0.000029) | (0.000013) | (0.00251) | |
| year | 0.001000*** | 0.000800*** | 0.11400*** |
| (15.0700) | (0.000063) | (0.011900) | |
| _cons | −0.001970** | −1.60200*** | −229.000*** |
| (0.000846) | (0.126000) | (24.0400) | |
| N | 6952 | 6952 | 6952 |
| R2 |
| 0.041 | 0.039 |