资本配置效率

企业性质

国有企业

非国有企业

(1)

(2)

(3)

(4)

(5)

(6)

PTR

−12.5691*

−4.2444*

−0.2979***

−0.2682***

−0.3420

−0.3506

(0.0616)

(0.0850)

(0.0002)

(0.0001)

(0.1028)

(0.1122)

_cons

−2.4651**

0.1009

10.7279***

11.5218***

12.0047***

11.3270***

(0.0167)

(0.8791)

(0.0000)

(0.0000)

(0.0000)

(0.0000)

Control

Yes

Yes

Yes

Yes

Yes

Yes

Province

Yes

No

Yes

No

Yes

No

Industry

Yes

No

Yes

No

Yes

No

Stkcd

No

Yes

No

Yes

No

Yes

N

1296

1295

4312

4306

2070

2064

R²

0.2676

0.8215

0.5599

0.8969

0.5216

0.8457