|
| Tu |
| CC_top5 | −0.0029** |
|
| (−2.56) |
| Lev | 0.0265*** |
|
| (16.73) |
| Size | −0.0030*** |
|
| (−10.74) |
| Roa | −0.0063 |
|
| (−1.09) |
| Sep | 0.0000 |
|
| (1.46) |
| Indep | 0.0025 |
|
| (0.59) |
| Auditor | −0.0169*** |
|
| (−9.32) |
| Growth | 0.0004 |
|
| (1.11) |
| Debt | −0.0058*** |
|
| (−5.13) |
| SOE | −0.0013** |
|
| (−2.10) |
| _cons | 0.0881*** |
|
| (13.90) |
| Industry | controlled |
| Year | controlled |
| N | 8075 |
| R2 | 0.1762 |
| Adjust-R2 | 0.1728 |
| F value | 52.12 |