|
| 模型(1) | 模型(2) |
| VARIABLES | GI_A | GI_D |
| Tone1 | 0.008*** | 0.467*** |
| (8.21) | (11.17) | |
| SIZE | 0.000 | 0.034*** |
| (1.16) | (11.27) | |
| LEV | −0.005*** | −0.097*** |
| (−10.01) | (−4.40) | |
| GROWTH | −0.000*** | −0.004** |
| (−5.75) | (−2.22) | |
| ROA | −0.034*** | −1.044*** |
| (−21.15) | (−14.51) | |
| IDR | 0.001 | −0.020 |
| (0.87) | (−0.49) | |
| DAceo | 0.001*** | 0.012* |
| (3.75) | (1.75) | |
| LOSS | 0.014*** | 0.154*** |
| (35.63) | (8.76) | |
| Constant | −0.004** | −0.894*** |
| Observations | 13,296 | 13,296 |
| R-squared | 0.274 | 0.113 |
| ind FE | YES | YES |
| Year FE | YES | YES |