变量 | (1) | (2) |
AUTI | AUTI | |
| 非国有企业 | 国有企业 |
ESG | −0.0044** | −0.0032 |
(−2.2602) | (−1.0405) | |
Size | 0.0458*** | 0.0313*** |
(5.3862) | (2.5929) | |
Lev | 0.0222 | 0.0695* |
(0.9176) | (1.6740) | |
Roa | −0.3026*** | −0.2845*** |
(−10.0365) | (−4.5311) | |
Tobinq | −0.0060*** | −0.0054 |
(−2.7414) | (−1.3321) | |
Age | 0.0062 | −0.0151 |
(0.5809) | (−0.6780) | |
First | 0.0006 | 0.0008 |
(1.1444) | (1.3166) | |
Ihold | −0.0004 | 0.0005 |
(−1.5929) | (1.1707) | |
Fee | 0.0146 | −0.0000 |
(1.2790) | (−0.0002) | |
Opin | −0.0547*** | −0.0338* |
(−5.8064) | (−1.9213) | |
Constant | 3.4934*** | 3.7873*** |
(17.4589) | (13.7759) | |
Year | YES | YES |
Industry | YES | YES |
Obs | 9295 | 4545 |
R-sq | 0.1423 | 0.1885 |
Number | 2330 | 997 |