(1)

变量

‘ols’

CAPM

0.00173^***

(11.01)

Size

−0.00530^***

(−33.35)

DFL

0.01232^***

(11.65)

ROA

0.03310^***

(9.16)

Cashflow

−0.02143^***

(−8.28)

Growth

−0.00019

(−0.42)

Markup

−0.00583^***

(−10.14)

Age

−0.02574^***

(−50.29)

Own

0.00000

(0.45)

MSHARE

0.00000

(0.06)

Duality

0.00031

(0.89)

Boards

0.00774^***

(9.22)

_cons

0.25821^***

(72.05)

R²

0.216

N

19,766