变数

捐款量

捐款虚拟变数

捐款量

捐款虚拟变数

Fcf

2.5651***

0.4011***

1.4069***

0.2298***

(0.2641)

(0.0477)

(0.2670)

(0.0492)

Size

0.5692***

0.0968***

(0.0212)

(0.0034)

Leverage

−0.8485***

−0.1458***

(0.0797)

(0.0155)

Sale

0.1308***

0.0168**

(0.0350)

(0.0066)

Largest holder rate

−0.0190***

−0.0020***

(0.0040)

(0.0007)

Isduality

0.0364

0.0024

(0.0341)

(0.0066)

Board

0.3973***

0.0956***

(0.1522)

(0.0251)

Inddirect

−3.0419

−0.9333***

(1.9310)

(0.3114)

Supervisor

0.0263

0.0086***

(0.0163)

(0.0031)

Executive

−0.5956**

−0.1476***

(0.2418)

(0.0398)

Herf3

2.1464***

0.1960**

(0.5465)

(0.0933)

Tradable share

−0.3861***

−0.0720***

(0.0617)

(0.0115)

bb

−0.2898***

−0.0489***

(0.0755)

(0.0148)

_cons

0.5680***

0.1157***

−10.5882***

−1.6629***

(0.0158)

(0.0030)

(0.8802)

(0.1400)

Ind

No

No

Yes

Yes

Year

No

No

Yes

Yes

N

11188

11188

11126

11126

R-sq

0.008

0.006

0.187

0.151