| 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 |