| (4) | (5) | (6) |
|
| 东部 | 西部 |
| 托宾Q | 托宾Q | 托宾Q |
RD | 0.151*** | 0.167*** | −0.00553 |
| (4.077) | (4.106) | (−0.123) |
MI | 0.0499 | 0.0344 | 0.0610 |
| (1.533) | (0.523) | (1.217) |
Age | 0.00832 | −0.000450 | 0.0479** |
| (0.987) | (−0.046) | (2.542) |
Lev | −1.397** | −1.236* | −1.815*** |
| (−2.550) | (−1.654) | (−4.555) |
cash | 2.162*** | 2.022** | 2.195* |
| (2.660) | (2.040) | (1.897) |
size | −0.750*** | −0.768*** | −0.722*** |
| (−6.625) | (−5.436) | (−8.587) |
_cons | 18.89*** | 19.49*** | 17.88*** |
| (8.692) | (7.185) | (9.795) |
N | 2285 | 1753 | 532 |
adj.R-sq | 0.270 | 0.253 | 0.413 |
r2 | 0.272 | 0.256 | 0.420 |
F | 121.0 | 102.6 | 46.21 |