变量 | GTI | GTI | GTI | GTI |
(1) | (2) | (3) | (4) | |
treat × post | -0.209*** (0.0650) | -0.235*** (0.0706) | -0.669 (0.574) | -0.641 (0.628) |
Sub × treat |
|
| -0.0122 (0.00760) | -0.0170** (0.00859) |
Sub × treat × post |
|
| 0.0403 (0.0376) | 0.0420 (0.0411) |
Sub × post |
|
| -0.0266 (0.0467) | -0.0228 (0.0500) |
Sub |
|
| 0.0927*** (0.0333) | 0.0534 (0.0342) |
Growth |
| 0.198** (0.0263) |
| 0.0751*** (0.0268) |
Lev |
| 0.244* (0.132) |
| 0.258* (0.133) |
Ros |
| -0.380** (0.191) |
| -0.293* (0.178) |
size |
| 0.149*** (0.0326) |
| 0.103*** (0.0373) |
age |
| -0.122*** (0.0281) |
| -0.107*** (0.0286) |
TobinQ |
| 0.0810*** (0.0263) |
| 0.0751*** (0.0268) |
企业 | 控制 | 控制 | 控制 | 控制 |
年度 | 控制 | 控制 | 控制 | 控制 |
样本量 | 4400 | 4400 | 4400 | 4400 |
调整R2 | 0.005 | 0.033 | 0.019 | 0.035 |