变量

模型(1)

模型(2)

模型(3)

模型(4)

模型(5)

模型(6)

模型(7)

EIP

DC_Ln

DC_Ab

DC_Ad

EIP

EIP

EIP

Dt

0.103^***

0.011^***

0.011^***

0.031^***

0.095^***

0.033^***

0.055^***

(0.008)

(0.003)

(0.000)

(0.002)

(0.008)

(0.009)

(0.008)

DC_Ln

0.732^***

(0.027)

DC_Ab

6.556^***

(0.336)

DC_Ad

1.583^***

(0.037)

Lev

0.334^***

−0.204^***

−0.074^***

−0.034^*

0.484^***

0.820^***

0.388^***

(0.084)

(0.028)

(0.004)

(0.018)

(0.082)

(0.083)

(0.080)

Size

0.628^***

0.013^***

−0.003^***

−0.057^***

0.618^***

0.646^***

0.718^***

(0.013)

(0.004)

(0.000)

(0.003)

(0.013)

(0.013)

(0.013)

ListAge

−0.244^***

0.026^***

−0.006^***

0.003

−0.263^***

−0.202^***

−0.249^***

(0.020)

(0.007)

(0.001)

(0.004)

(0.019)

(0.019)

(0.018)

Cash

−0.425^*

−0.128^*

−0.050^***

−0.286^***

−0.331

−0.100

0.028

(0.220)

(0.073)

(0.008)

(0.046)

(0.213)

(0.214)

(0.207)

Grow

0.104^**

−0.209^***

−0.001

−0.016^*

0.256^***

0.112^***

0.129^***

(0.041)

(0.014)

(0.001)

(0.009)

(0.041)

(0.040)

(0.039)

Roa

1.110^***

0.073

−0.075^***

0.124^***

1.056^***

1.599^***

0.913^***

(0.219)

(0.071)

(0.010)

(0.046)

(0.214)

(0.217)

(0.210)

_cons

−10.571^***

1.068^***

0.145^***

0.595^***

−11.353^***

−11.521^***

−11.514^***

(0.259)

(0.084)

(0.008)

(0.053)

(0.253)

(0.257)

(0.247)

R2

0.253

0.030

0.195

0.081

0.297

0.292

0.343

N

13,664

13,664

13,664

13,664

13,664

13,664

13,664