| 变量 | 模型(1) |
| SEWrt-3 | 4.655* (2.359) |
| SEWet-3 | 2.318** (1.018) |
| PEt-3 | 0.030 (0.023) |
| SEWrt-3 × PEt-3 | 5.560 (6.624) |
| SEWet-3 × PEt-3 | 13.115** (5.033) |
| Controlpercentage10% | −0.001** (0.000) |
| Size | 0.007 (0.006) |
| Age | −0.018 (0.015) |
| Liquidity | 0.001 (0.003) |
| Asset-liabilityrate | 0.017 (0.039) |
| SA | −0.061* (0.032) |
| TobinQ | 0.002 (0.005) |
| Growthrate | −0.003 (0.024) |
| Capital-intensity | 0.010*** (0.003) |
| Board-family | 0.069 (0.066) |
| General-manager | −0.004 (0.015) |
| Boardex-ecutive | −0.008 (0.047) |
| SR | −0.037* (0.019) |
| Family-compensation | −0.000 (0.000) |
| INST | −0.001 (0.001) |
| Environdynamism | 0.485*** (0.169) |
| Environrichness | −0.001 (0.032) |
| Constant | −0.247 (0.212) |
| Year | 控制 |
| Industry | 控制 |
| R2 | 0.047 |
| Adj-R2 | 0.024 |
| N | 2639 |