| 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 |