(1)

(2)

(3)

(4)

业绩期望落差

业绩期望顺差

业绩期望落差

业绩期望顺差

RD

RD

RD

RD

AD

0.858^***

−0.968^**

0.864^***

−1.036^***

(6.70)

(−2.47)

(6.99)

(−2.66)

FS₁

−0.00154

−0.00606

(−0.37)

(−0.63)

AD × FS₁

0.0406

0.332^**

(0.57)

(1.99)

FS₂

0.000955

−0.00615

(0.28)

(−0.81)

AD × FS₂

0.0547

0.303^**

(0.93)

(2.17)

_CONS

2.606^***

6.744^***

2.611^***

6.700^***

(5.06)

(6.07)

(5.07)

(6.00)

CONTROLS

YES

YES

YES

YES

YEAR

YES

YES

YES

YES

IND

YES

YES

YES

YES

N

14,714

3504

14,714

3504

R²

0.456

0.570

0.456

0.570

F

118.1

37.36

118.1

37.39