|
| (1) | (2) |
| 变量 | OInvest | UndInvest |
| Miscredit | 0.009** | −0.002*** |
| (2.56) | (−3.13) | |
| Miscredit*State | −0.007** | 0.001** |
| (−2.05) | (1.15) | |
| Growth | −0.001 | −0.001 |
| (−1.38) | (−1.09) | |
| Top10 | 0.000*** | −0.000* |
| (2.93) | (−1.90) | |
| Size | 0.005 | 0.000 |
| (1.06) | (0.50) | |
| Staff | −0.012** | 0.003*** |
| (−2.01) | (2.88) | |
| Eps | 0.014*** | −0.004** |
| (3.51) | (−2.42) | |
| Profit | −0.000 | 0.028** |
| (−0.00) | (2.43) | |
| Tobinq | 0.004 | −0.002*** |
| (1.31) | (−3.19) | |
| Constant | 0.023 | −0.054*** |
| (0.41) | (−3.81) | |
| 年度 | 控制 | 控制 |
| 行业 | 控制 | 控制 |
| Observations | 2,519 | 3,608 |
| R-squared | 0.057 | 0.068 |