|
| 1 | 2 | 3 | 4 | ||||
| 系数 | p值 | 系数 | p值 | 系数 | p值 | 系数 | p值 | |
| EDCPTD | −0.392 | 0.042** |
|
|
|
|
|
|
| Hub |
|
| −0.241 | 0.04** |
|
|
|
|
| Authority |
|
|
|
| −1.44 | 0.046** |
|
|
| Katz |
|
|
|
|
|
| −0.565 | 0.012** |
| 市净率 | −0.028 | 0.045** | −0.028 | 0.046** | −0.03 | 0.042** | −0.028 | 0.045** |
| 总资产增长率 | 0.003 | 0.473 | 0.003 | 0.440 | 0.001 | 0.789 | 0.003 | 0.449 |
| 总资产周转率 | 0.178 | 0.136 | 0.182 | 0.132 | 0.179 | 0.137 | 0.176 | 0.141 |
| 资产负债率 | −2.069 | 0.146 | −2.08 | 0.145 | −2.02 | 0.149 | −2.075 | 0.145 |
| 市值对数 | −0.434 | 0.000*** | −0.434 | 0.000*** | −0.435 | 0.000*** | −0.436 | 0.000*** |
| 货币增长供应量 | −0.033 | 0.759 | −0.021 | 0.840 | −0.082 | 0.515 | −0.090 | 0.410 |
| GDP增长率 | 0.178 | 0.741 | 0.120 | 0.820 | 0.416 | 0.504 | 0.489 | 0.389 |
| CPI | −0.008 | 0.898 | 0.004 | 0.941 | −0.005 | 0.936 | 0.001 | 0.990 |
| 是否是固定效应 | 是 |
| 是 |
| 是 |
| 是 |
|
| 是否含时间效应 | 是 |
| 是 |
| 是 |
| 是 |
|
| UD test | 0.000 | 0.000 | 0.000 | 0.000 | ||||
| KP test | 1183.226 | 3977.290 | 78.184 | 4511.284 | ||||
| 10% IV size | 19.930 | 19.930 | 19.930 | 19.930 | ||||
| Hansen J statistic | 0.213 | 0.221 | 0.207 | 0.212 | ||||