Variables | Industry competition | |
Coefficient | Z value | |
Unrelate | 1.985*** | 4.43 |
Unrelate*Competition | 9.331*** | 3.18 |
Competition | 0.146 | 0.56 |
Related | 0.001 | 0.01 |
Dual | 0.07 | 1.01 |
Property | −0.483*** | −6.13 |
First | −0.002 | −0.88 |
Lndep | 0.262 | 0.41 |
Board | −0.012 | −0.58 |
ESH | −0.252 | −1.47 |
Overcon | −0.318 | −1.1 |
Cash | −0.242 | −0.93 |
Intang | −0.48 | −0.85 |
Tobinq | 0.014 | 0.37 |
OCF | −4.919** | −2.53 |
Size | −0.032 | −0.89 |
ROA | −0.092 | −0.05 |
Lev | −0.123 | −0.47 |
Growth | −0.128 | −1.09 |
Accrual | −4.686** | −2.4 |
FC | −0.042 | −1.61 |
Bedrivers | −0.286** | −2.34 |
_cons | 0.998 | 1.16 |
N | 7464 | |
chi2 | 244.604 |