变量

(1)

(2)

(3)

ROA

ROA

ROA

GT

0.00726^***

(3.73)

L.GT

0.00555^**

(2.56)

L2.GT

0.00578^**

(2.41)

SI

0.0189^***

0.0204^***

0.0213^***

(10.56)

(10.21)

(9.57)

TQ

0.0107^***

0.0101^***

0.0106^***

(10.71)

(9.34)

(8.64)

AG

0.000460

0.000503

0.000429

(1.57)

(1.54)

(1.16)

ST

−0.00787^**

−0.00614

−0.00376

(−2.14)

(−1.49)

(−0.81)

GR

0.00204^*

0.00174

0.00526^***

(1.67)

(1.36)

(2.84)

LEV

−0.189^***

−0.199^***

−0.213^***

(−21.42)

(−19.90)

(−18.66)

GDP

−0.000292

−0.00169

−0.00701

(−0.08)

(−0.41)

(−1.50)

TOP1

0.0370^***

0.0400^***

0.0396^***

(3.48)

(3.32)

(2.89)

DU

0.00253

0.00228

0.00286

(0.82)

(0.65)

(0.72)

PI

−0.0334

−0.0260

−0.0264

(−1.34)

(−0.94)

(−0.84)

_cons

−0.299^***

−0.335^***

−0.293^***

(−5.42)

(−5.39)

(−4.18)

Y

控制

控制

控制

IN

控制

控制

控制

r2_a

0.3271

0.3254

0.3205

N

1887

1619

1349