|
| 经营欠佳组 | 经营良好组 |
| VARIABLES | RD | RD |
| FIN | 8.405*** | 4.654*** |
| (0.667) | (3.15) | |
| FIN2 | −17.97*** | −13.313*** |
| (1.651) | (−3.00) | |
| MP × FIN | −220.3*** | −178.749*** |
| (25.48) | (−3.69) | |
| MP × FIN2 | 340.5*** | 387.744*** |
| (76.71) | (2.61) | |
| LEV | 2.442*** | 1.185*** |
| (0.0947) | (7.06) | |
| TBQ | −0.0804*** | −0.307*** |
| (0.0145) | (−10.88) | |
| Constant | 17.10*** | 17.666*** |
| (0.0543) | (151.59) | |
| Observations | 6441 | 2085 |
| R-squared | 0.138 | 0.12 |
| Ftest |
| 0 |
| r2_a |
| 0.113 |
| F |
| 45.32 |