变量

(1)

(2)

(3)

(4)

(5)

(6)

(7)

Asy

Size

Lev

Roa

Liquid

Growth

Cashflow

CrossDum

−0.1774^***

0.2833^***

0.0232^***

−0.0057^***

−0.3171^***

−0.0075^***

−0.0044^***

(0.0055)

(0.0154)

(0.0034)

(0.0011)

(0.0484)

(0.0072)

(0.0012)

Asy

−1.9371^***

−0.0234^***

−0.0627^***

0.6576^***

−0.1275^***

−0.0411^***

(0.0184)

(0.0040)

(0.0014)

(0.0561)

(0.0086)

(0.0015)

控制变量

Yes

Yes

Yes

Yes

Yes

Yes

Yes

年份fe

Yes

Yes

Yes

Yes

Yes

Yes

Yes

样本量

22,742

22,742

22,742

22,742

22,742

22,742

22,742

R²

0.2864

0.5123

0.1577

0.3328

0.0400

0.0532

0.0651