PanelA:是否引入外资大股东

PanelB:外资大股东持股比例

infinit

oversea

infinit

oversea

Foreign_if

0.0144***

0.0211***

(17.904)

(29.853)

Foreign_rate

0.0454***

0.1033***

(10.518)

(17.801)

_cons

0.2686***

−0.2401***

0.2686***

−0.2419***

(33.363)

(−35.143)

(33.329)

(−35.354)

Control

Yes

Yes

Yes

Yes

Year

Yes

Yes

Yes

Yes

Idcode

Yes

Yes

Yes

Yes

N

314246

314246

314246

314246

Adj-R2

0.549

0.875

0.549

0.875