变量 | GTI | GTI | GTI | GTI |
(1) | (2) | (3) | (4) | |
treat × post | -0.169*** (0.0460) | -0.172*** (0.0498) | -1.332*** (0.432) | -1.539*** (0.482) |
Sub × treat |
|
| -0.0130*** (0.00269) | -0.0143*** (0.00288) |
Sub × treat × post |
|
| 0.0835*** (0.0260) | 0.0967*** (0.0289) |
Sub × post |
|
| -0.115*** (0.0257) | -0.116*** (0.0287) |
Sub |
|
| 0.104*** (0.0108) | 0.0758*** (0.0119) |
Growth |
| 0.0800* (0.0434) |
| 0.0703 (0.0441) |
Lev |
| 0.00276 (0.0753) |
| 0.0640 (0.0766) |
Ros |
| -0.343*** (0.106) |
| -0.230** (0.104) |
size |
| 0.123*** (0.0154) |
| 0.0712*** (0.0176) |
age |
| -0.0704*** (0.0174) |
| -0.0626*** (0.0170) |
TobinQ |
| 0.0397*** (0.0131) |
| 0.0284** (0.0127) |
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 | 0.042 | 0.041 | 0.053 |