| 变量名称 | (1) | (2) | (3) | (3) |
| EMBITE | EMBITE | EMBITE | EMBITE | |
| SOE | 0.008*** | 0.008*** | 0.010*** | 0.010*** |
| (3.98) | (3.71) | (4.38) | (4.10) | |
| Donation |
|
| 0.004 | 0.005 |
|
|
| (1.13) | (1.30) | |
| SOE × Donation |
|
| −0.010* | −0.010* |
|
|
| (−1.93) | (−1.84) | |
| Size |
| −0.002 |
| −0.002 |
|
| (−1.54) |
| (−1.46) | |
| ROA |
| −0.048** |
| −0.051** |
|
| (−2.12) |
| (−2.19) | |
| LEV |
| 0.021*** |
| 0.021*** |
|
| (3.38) |
| (3.31) | |
| BTM |
| −0.008 |
| −0.009 |
|
| (−1.38) |
| (−1.38) | |
| DUAL |
| 0.001 |
| 0.001 |
|
| (0.20) |
| (0.23) | |
| TOP1 |
| −0.009 |
| −0.009 |
|
| (−1.25) |
| (−1.15) | |
| Ratio |
| −0.001 |
| −0.001 |
|
| (−0.07) |
| (−0.19) | |
| IndRatio |
| 0.036** |
| 0.036** |
|
| (2.12) |
| (2.16) | |
| Big4 |
| 0.004 |
| 0.004 |
|
| (0.97) |
| (1.05) | |
| Year | 控制 | 控制 | 控制 | 控制 |
| Ind | 控制 | 控制 | 控制 | 控制 |
| R-squared |
|
|
|
|