(1)

(2)

变量

ols

psm_ols

ICA

−0.00370^***

−0.00368^***

(−3.35)

(−3.32)

ROA

0.0534^***

0.0532^***

(5.41)

(5.39)

Dev

0.00324^*

0.00322^*

(2.05)

(2.03)

Earn

−0.0477

−0.0464

(−1.23)

(−1.19)

Cash

−0.0866^***

−0.0863^***

(−11.89)

(−11.86)