|
| (1) |
| 变量 | y |
| DID | 0.381** |
|
| (2.18) |
| 年份 | −0.538* |
|
| (−1.95) |
| 实施 | −0.068 |
|
| (−0.41) |
| SIZE | −0.548*** |
|
| (−5.90) |
| TAGR | −0.091* |
|
| (−1.96) |
| LEV | 1.101*** |
|
| (2.78) |
| ROA | −1.130*** |
|
| (−2.66) |
| 2017.year | −0.681*** |
|
| (−3.16) |
| 2018.year | −0.742*** |
|
| (−9.38) |
| 2019.year | −0.499*** |
|
| (−6.25) |
| 2020.year | −0.180** |
|
| (−2.16) |
| Constant | 14.619*** |
|
| (6.87) |
| Observations | 5249 |
| R-squared | 0.196 |
| Company FE | YES |
| Year FE | YES |
| F test | 0 |
| r2_a | 0.194 |
| F | 32.82 |