PanelA:是否引入外资大股东

PanelB:外资大股东持股比例

Quality

Quality

Quality

Quality

Foreign_if

0.0051^*

0.0067^**

(1.68)

(2.184)

Foreign_rate

0.0257^*

0.0365^**

(1.780)

(2.511)

_cons

0.4960^***

0.1528^***

0.4961^***

0.1521^***

(1398.781)

(5.675)

(1057.102)

(5.647)

Control

No

Yes

No

Yes

Year

Yes

Yes

Yes

Yes

Idcode

Yes

Yes

Yes

Yes

N

314246

314246

314246

314246

Adj-R²

0.161

0.161

0.161

0.161