Variables | RD | RD | RD |
(1) | (2) | (3) | |
Donatet−1 |
|
| 0.0564*** (6.0381) |
Dumt−1 |
| 0.6743*** (5.0608) |
|
Top1 | 0.0135*** (2.9051) | 0.0140*** (3.0737) | 0.0137*** (3.0376) |
Financial | 0.1022 (0.3143) | 0.1023 (0.3216) | 0.1113 (0.3533) |
ROE | 2.9645*** (3.9966) | 2.9366*** (4.0500) | 2.8362*** (3.9483) |
Inassets | −0.5575 (−0.3275) | −0.3510 (−0.2109) | −0.5478 (−0.3325) |
Cash | 0.2784 (0.6677) | 0.1716 (0.4205) | 0.1283 (0.3174) |
Magin | −2.0333*** (−3.9889) | −2.0915*** (−4.1966) | −2.0852*** (−4.2253) |
State | 0.3910** (2.5564) | 0.3492** (2.3320) | 0.3459** (2.3334) |
Year/Industry | Control | Control | Control |
Constant | 15.5129*** (21.6935) | 15.2352*** (21.7293) | 15.2085*** (21.9123) |
R-squared | 0.2349 | 0.2704 | 0.2845 |
Adj.R2 | 0.1987 | 0.2344 | 0.2491 |
N | 554 | 554 | 554 |