变量

(1)

Tobin Q

(2)

Credit Loan

(3)

Tobin Q

FINTECH

0.1173^***

(6.15)

0.9137^*

(1.80)

0.0817^***

(4.50)

Credit Loan

0.0074^***

(2.81)

LEV

−0.9476^***

(−7.26)

−0.5040

(−0.44)

−0.8288^***

(−7.42)

SIZE

−0.4990^***

(−8.55)

8.0303^***

(15.27)

−0.5173^***

(−8.29)

IND

1.0078^***

(3.32)

11.5277^***

(5.47)

1.0565^***

(3.57)

OPIN

0.1924^***

(3.47)

0.1112

(0.18)

0.1689^***

(3.09)

GRO

0.0004

(0.50)

0.0081

(0.97)

0.0007

(1.02)

NPR

0.0127^***

(4.23)

0.0505^*

(1.81)

0.0091^***

(3.45)

常数项

5.3558^***

(9.78)

−78.84^***

(−14.96)

5.5708^***

(9.40)

时间

固定

固定

固定

行业

固定

固定

固定

N

3561

3561

3561

R-squared

0.3723

0.2533

0.3672