Variables	Pred. Sign	Model (1.1) and (1.2)
Variables	Pred. Sign	Y: RTaiwanI		Y: RMainland ChinaI
		Parameter	t value (p value)	Parameter	t value (p value)
Intercept	?	−34.485	−14.31 (<0.0001)	12.857	5.06 (<0.0001)
ITC	+, −	0.056	3.19 (0.0015)**	−0.131	−7.77 (<0.0001)**
RUDIS	−	0.017	2.77 (0.0056)**	−0.001	−0.08 (0.9368)
RTaiwanI	−			−0.128	−7.83 (<0.0001)**
RMainland ChinaI	−	−0.149	−8.75 (<0.0001)**
TInvRev	+	−0.001	−0.06 (0.9529)
CInvRev	+			0.001	4.39 (<0.0001)**
ETR	+	−0.045	−3.56 (0.0004)**	0.002	0.17 (0.8643)
DE	−	−0.013	−6.72 (<0.0001)**	−0.014	−7.83 (<0.0001)**
GROWTH	+	−0.007	−2.97 (0.0030)**	−0.012	−5.16 (<0.0001)**
SIZE	+	3.163	21.90 (<0.0001)**	−0.466	−3.08 (0.0021)**
CINT	−, +	−0.184	−15.99 (<0.0001)**	−0.146	−12.82 (<0.0001)**
DOIL	?	2.672	4.88 (<0.0001)**	0.843	1.58 (0.1142)
MTaiwan	+	0.029	0.39 (0.6947)
MMainland China	+			1.195	9.37 (<0.0001)**
		System Weighted R-Square 15.62%