|
| (1) | (2) | (3) |
|
| ROE | Manage | ROE |
| DT | 0.051*** | 0.005*** | 0.046*** |
|
| (36.586) | (15.995) | (33.441) |
| N | −0.006 | −0.009*** | 0.003 |
|
| (−0.675) | (−4.310) | (0.305) |
| Dual | −0.002 | 0.000 | −0.002 |
|
| (−0.473) | (0.536) | (−0.609) |
| size | 0.086*** | 0.024*** | 0.061*** |
|
| (18.017) | (23.447) | (12.733) |
| lev | −0.449*** | −0.020*** | −0.428*** |
|
| (−28.387) | (−5.777) | (−27.755) |
| age | −0.011 | −0.004* | −0.007 |
|
| (−1.287) | (−1.884) | (−0.885) |
| 2018.year | 0.000 | 0.000 | 0.000 |
|
| (.) | (.) | (.) |
| 2019.year | −0.004 | 0.001 | −0.005 |
|
| (−0.432) | (0.514) | (−0.562) |
| 2020.year | −0.008 | 0.000 | −0.008 |
|
| (−0.448) | (0.070) | (−0.476) |
| 2021.year | −0.000 | 0.005 | −0.005 |
|
| (−0.014) | (0.848) | (−0.210) |
| 2022.year | −0.015 | 0.004 | −0.020 |
|
| (−0.447) | (0.545) | (−0.585) |
| Manage |
|
| 1.044*** |
|
|
|
| (23.648) |
| _cons | −1.655*** | −0.573*** | −1.057*** |
|
| (−12.455) | (−19.954) | (−8.013) |
| N | 13,055 | 13,055 | 13,055 |
| R2 | 0.221 | 0.091 | 0.261 |
| Adj. R2 | 0.026 | −0.138 | 0.075 |