|
| (1) | (2) |
| 变量 | Risk | Risk |
| Digital | −0.0051*** | −0.0036** |
|
| (−2.73) | (−1.96) |
| Size |
| −0.0326*** |
|
|
| (−18.16) |
| Age |
| 0.0331*** |
|
|
| (4.01) |
| State |
| −0.0606*** |
|
|
| (−12.90) |
| Grow |
| 0.0262*** |
|
|
| (7.75) |
| Sep |
| −0.0001 |
|
|
| (−0.40) |
| Dual |
| −0.0064 |
|
|
| (−1.28) |
| Lev |
| 0.1239*** |
|
|
| (11.54) |
| Constant | 0.5923*** | 1.1703*** |
|
| (30.25) | (24.54) |
| Observations | 19,100 | 19,100 |
| R−squared | 0.043 | 0.080 |
| Industry FE | YES | YES |
| Year FE | YES | YES |