| China | US | China and US |
intensity | intensity | intensity | |
DA | −0.0002*** | −0.8419** | −0.0032** |
| (−2.64) | (−1.98) | (1.96) |
ROA | −0.0007*** | −1.6338 | 0.0058*** |
| (−5.62) | (−1.32) | (2.41) |
Grow | 0.0000** | 0.0102 | 0.0000** |
| (1.98) | (1.13) | (2.18) |
Lnsale | −0.0065*** | −1.0520*** | −0.2944*** |
| (−4.49) | (−3.11) | (−2.82) |
collateral | 0.0015 | −0.3568 | −0.3012* |
| (0.17) | (−0.51) | (−1.76) |
shield | 0.2526 | −0.9172 | −0.3580 |
| (0.90) | (−0.33) | (−0.58) |
D*Da |
|
| 0.0019** |
|
|
| (2.01) |
country |
|
| 0.0000 |
|
|
| (.) |
cons | 0.1942*** | 22.3681*** | 6.2580*** |
| (6.42) | (3.22) | (2.89) |
N | 6282 | 1938 | 8220 |