|
| (1) | (2) | (3) |
| 变量 | TobinQ | IC | TobinQ |
| DCG | 0.022*** | 0.002*** | 0.021*** |
| (0.006) | (0.001) | (0.005) | |
| IC |
|
| 0.532*** |
|
|
| (0.063) | |
| Top | −0.105 | 0.125*** | −0.172** |
| (0.078) | (0.010) | (0.078) | |
| Board | −0.007 | −0.000 | −0.007 |
| (0.005) | (0.001) | (0.005) | |
| Lev | −0.708*** | −0.102*** | −0.653*** |
| (0.064) | (0.007) | (0.063) | |
| Soe | 0.026 | −0.008*** | 0.030 |
| (0.020) | (0.003) | (0.020) | |
| Size | −0.321*** | 0.026*** | −0.335*** |
| (0.013) | (0.001) | (0.013) | |
| Ba | −0.044** | 0.012*** | −0.050** |
| (0.020) | (0.003) | (0.020) | |
| Dual | −0.006 | 0.003 | −0.008 |
| (0.020) | (0.002) | (0.020) | |
| _cons | 9.277*** | 5.859*** | 6.162*** |
| (0.239) | (0.023) | (0.462) | |
| N | 19,548 | 19,548 | 19,548 |
| R2 | 0.2644 | 0.0841 | 0.2674 |
| INDUSTRY | YES | YES | YES |
| YEAR | YES | YES | YES |