企业所处地区

企业产权性质

变量

东部地区

中部地区

西部地区

国有控股

非国有控股

(1)

(2)

(3)

(4)

(5)

Digit

0.056^**

0.094^**

−0.002

0.139^***

0.014

(2.341)

(2.051)

(−0.039)

(5.182)

(0.544)

lnenter-age

−0.008^***

−0.004

−0.014^***

−0.004^*

−0.020^***

(−4.732)

(−1.172)

(−3.655)

(−1.842)

(−10.270)

lnasset

0.646^***

0.594^***

0.648^***

0.628^***

0.683^***

(92.767)

(39.760)

(39.165)

(78.854)

(75.085)

lev

0.348^***

0.180^**

0.411^***

0.387^***

0.254^***

(11.131)

(2.094)

(4.802)

(9.311)

(6.837)

roa

0.023^***

0.625^***

1.398^***

0.798^***

0.025^***

(3.863)

(7.604)

(6.718)

(10.250)

(4.412)

lnboar

−0.165^***

−0.055

−0.013

−0.275^***

−0.073

(−3.683)

(−0.655)

(−0.147)

(−5.254)

(−1.408)

常数项

−5.620^***

−4.704^***

−6.229^***

−5.156^***

−6.501^***

(−34.750)

(−14.389)

(−17.859)

(−26.657)

(−31.327)

时间

YES

YES

YES

YES

YES

个体

YES

YES

YES

YES

YES

N

6,032

1,666

1,629

4,925

4,384

R-squared

0.638

0.559

0.589

0.612

0.599