模型1

ROA

模型2

ROA

模型3

ROA

SIZE

0.0018*

0.0083***

−0.0065***

(1.7332)

(7.8174)

(−5.8856)

BS

0.0182***

0.0181***

0.0201***

(3.3355)

(3.4640)

(3.8396)

GROW

0.0734***

0.0722***

0.0749***

(19.3398)

(19.8512)

(20.5652)

AGE

−0.0008***

−0.0006***

−0.0008***

(−4.4215)

(−3.7168)

(−4.8740)

CR

0.0004***

0.0004***

0.0005***

(5.3949)

(4.9341)

(7.0190)

SLK

0.0119***

(18.4418)

SALARY

0.0274***

(18.1585)

N

3732

3732

3732

r2_a

0.1194

0.1929

0.1908