(1)

(2)

(3)

Change 1

Change 2

Change

常数项

−9.113^***

−2.767

−2.695

(−2.826)

(−1.366)

(−1.337)

Pe

1.413^***

0.584^**

0.581^*

(3.708)

(1.960)

(1.960)

Size

0.786^***

0.291

0.368^**

(2.790)

(1.620)

(2.051)

Eage

−0.000

−0.028

−0.030

(−0.007)

(−0.772)

(−0.841)

Shares

−0.058

0.690

0.542

(−0.037)

(0.615)

(0.485)

Roa

0.122

−0.630

−1.978

(0.024)

(−0.171)

(−0.532)

Bs

0.059

−0.000

−0.051

(0.342)

(−0.001)

(−0.409)

Gender

−0.831^*

−0.166

−0.185

(−1.647)

(−0.436)

(−0.488)

Age

0.027

0.017

0.014

(0.788)

(0.678)

(0.552)

Degree

−0.574^**

−0.083

−0.038

(−1.976)

(−0.400)

(−0.184)

Year/Ind

控制

控制

控制

Chi²

38.000

17.490

16.630

Pseudo R²

0.215

0.0702

0.0663

N

186

186

186