变量

国企

非国企

HC

0.534^***

0.572^***

(0.022)

(0.012)

FC

−0.340^***

0.026

(0.057)

(0.033)

ROA

1.728^***

1.442^***

(0.081)

(0.040)

FT

−0.703^***

−0.971^***

(0.067)

(0.038)

size1

0.314^***

0.287^***

(0.019)

(0.010)

size2

−0.478^***

−0.447^***

(0.023)

(0.012)

Constant

−3.824^***

−3.165^***

(0.267)

(0.131)

Observations

4196

11985

R-squared

0.598

0.591

Number of code

672

2352