|
| 模型1 | 模型2 | 模型3 |
| VARIABLES | ROA | ROA | ROA |
| RD | −5.227*** |
|
|
|
| (1.175) |
|
|
| L.RD |
| 3.339* |
|
|
|
| (1.704) |
|
| L2.RD |
|
| 4.613*** |
|
|
|
| (1.709) |
| LEV | −0.084 | −0.032 | 0.201* |
|
| (0.062) | (0.087) | (0.106) |
| SIZE | −0.081*** | −0.056** | −0.062* |
|
| (0.019) | (0.027) | (0.033) |
| AGE | 0.229*** | 0.176 | 0.257 |
|
| (0.075) | (0.116) | (0.171) |
| CASH | 0.068 | 0.136 | 0.146 |
|
| (0.084) | (0.126) | (0.118) |
| _cons | 1.292*** | 0.744 | 0.498 |
|
| (0.411) | (0.583) | (0.606) |
| N | 145.000 | 121.000 | 95.000 |
| r2 | 0.342 | 0.175 | 0.354 |
| r2_a | 0.081 | −0.253 | −0.124 |