|
| (7) | (8) | (9) | (10) |
|
|
|
| 东部 | 西部 |
|
| RD | RD | RD | RD |
| Pro | 0.948** | −4.450** | 2.154*** | 0.356 |
|
| (2.439) | (−2.538) | (3.180) | (0.825) |
| Age | −0.0309*** | −0.0310*** | 0.00335 | −0.0448*** |
|
| (−3.614) | (−3.621) | (0.254) | (−4.275) |
| Lev | −0.229 | −0.246 | 0.224 | −0.318 |
|
| (−1.234) | (−1.325) | (0.991) | (−1.343) |
| cash | 2.692*** | 2.702*** | −0.181 | 3.404*** |
|
| (3.545) | (3.564) | (−0.242) | (3.625) |
| size | −0.254*** | −0.251*** | −0.218*** | −0.297*** |
|
| (−7.473) | (−7.439) | (−4.987) | (−7.046) |
| Pro*MI |
| 0.610*** |
|
|
|
|
| (2.905) |
|
|
| _cons | 7.994*** | 7.941*** | 5.935*** | 9.423*** |
|
| (9.371) | (9.357) | (5.668) | (8.792) |
| N | 2285 | 2285 | 532 | 1753 |
| adj.R-sq | 0.049 | 0.051 | 0.048 | 0.058 |
| r2 | 0.0512 | 0.0535 | 0.0569 | 0.0612 |
| F | 20.28 | 16.93 | 9.153 | 17.31 |