国有

非国有

TFP-LP

TFP-FIX

TFP-LP

TFP-FIX

L.Fin-back

−0.033

−0.073^*

−0.073^***

−0.093^***

(0.039)

(0.040)

(0.024)

(0.024)

Lev

1.198^***

1.317^***

1.156^***

1.318^***

(0.051)

(0.052)

(0.038)

(0.039)

Roa

4.320^***

4.197^***

2.853^***

2.925^***

(0.166)

(0.171)

(0.093)

(0.095)

Size

0.599^***

0.805^***

0.629^***

0.834^***

(0.007)

(0.008)

(0.007)

(0.007)

Age

0.144^***

0.140^***

−0.008

−0.015

(0.026)

(0.026)

(0.017)

(0.017)

Indratio

0.436^***

0.431^***

−0.468^***

−0.636^***

(0.143)

(0.148)

(0.107)

(0.110)

_cons

−5.487^***

−7.568^***

−5.404^***

−7.422^***

(0.191)

(0.198)

(0.168)

(0.172)

N

6343.000

6343.000

9289.000

9289.000

r2

0.745

0.812

0.720

0.789

Industry

Yes

Yes

Yes

Yes

year

Yes

Yes

Yes

Yes