变量

当期

滞后一期

ROE

ROE

CEDI

−0.037

0.010

(−1.24)

(0.35)

SIZE

0.033***

0.030***

(4.17)

(3.71)

DAR

−0.174***

−0.147**

(−2.95)

(−2.57)

GROWTH

0.011

0.007

(1.53)

(1.22)

STATE

0.012

0.017

(1.04)

(1.18)

ID

0.103

0.065

(0.99)

(0.52)

SMSR

0.083**

0.080*

(2.26)

(1.78)

Constant

−0.623***

−0.574***

(−3.70)

(−3.20)

Observations

501

334

R-squared

0.091

0.082

F test

0.000601

0.000776

r2_a

0.0782

0.0625

F

3.730

3.674