	大规模企业			小规模企业
	ROA	F.ROA	F2.ROA	ROA	F.ROA	F2.ROA
DRS	−0.020	−0.046^**	−0.057^***	−0.078^**	−0.093^***	−0.078^***
DRS	(−1.639)	(−2.432)	(−3.636)	(−2.521)	(−3.564)	(−3.525)
AGE	0.002	0.001	−0.001	0.000	−0.003	−0.003
AGE	(1.336)	(0.870)	(−0.452)	(−0.079)	(−1.142)	(−1.453)
MR	−0.068	0.051	0.043	−0.131^**	−0.113	−0.138
MR	(−0.864)	(1.426)	(1.436)	(−2.296)	(−1.579)	(−1.544)
TOP	0.001^**	0.002^**	0.001^***	0.000	0.000	0.001
TOP	(2.544)	(2.098)	(2.846)	(0.378)	(0.657)	(0.801)
FREE	0.147^***	0.102^**	0.061^*	0.028^***	0.012	0.010
FREE	(4.076)	(2.142)	(1.861)	(5.543)	(1.017)	(0.696)
YEAR	控制	控制	控制	控制	控制	控制
cons	−0.076^**	−0.124^**	−0.023	0.038	0.032	0.028
cons	(−2.023)	(−2.305)	(−0.585)	(1.135)	(0.912)	(0.858)
N	214	214	214	236	236	236
Prob>chi2	0.000	0.000	0.000	0.000	0.000	0.000
R-squared	0.329	0.319	0.301	0.354	0.267	0.253
Adjusted R-square	0.275	0.264	0.244	0.307	0.213	0.199