| absEM | T-values | |
| con | 0.0122*** | (4.04) |
| LN_a | 0.0004 | (0.21) |
| Lev | 0.0007*** | (6.14) |
| ROA | 0.0003 | (1.39) |
| ReceiR | 0.0214*** | (2.75) |
| Netprofit | −1.92e−13 | (−0.69) |
| Tq | 0.0126*** | (7.14) |
| Stateshr | 0.0001 | (1.52) |
| age | 0.0001 | (0.37) |
| gender | −0.0037 | (−0.73) |
| tenure | −0.0028*** | (−2.94) |
| education | −0.0024 | (−1.58) |
| N_director | −0.0022*** | (−3.28) |
| N_manager | −0.0019*** | (−4.39) |
| N_supervisor | −0.0026 | (−1.44) |