|
| 机构持股比例高组 | 机构持股比例低组 |
| Return | Return | |
| einvest | 0.994*** | 0.166 |
|
| (0.331) | (0.354) |
| Size | −0.016* | −0.001 |
|
| (0.009) | (0.010) |
| GRO | 0.103*** | 0.095*** |
|
| (0.037) | (0.031) |
| ROA | 1.334*** | 0.756*** |
|
| (0.195) | (0.213) |
| Cash | 0.150 | 0.149 |
|
| (0.112) | (0.119) |
| Lev | 0.132** | 0.013 |
|
| (0.064) | (0.073) |
| Nature | −0.018 | −0.014 |
|
| (0.020) | (0.022) |
| _cons | 0.342** | 0.031 |
|
| (0.163) | (0.175) |
| N | 1881.000 | 1503.000 |
| r2 | 0.160 | 0.256 |
| r2_a | 0.146 | 0.240 |
| year | Yes | Yes |
| Industry | Yes | Yes |