|
| (1) Multi-Period DID |
| Treati×Periodi,T | 2.372** |
|
| (1.97) |
| Gender | 0.247 |
|
| (0.09) |
| Age | −0.160** |
|
| (−2.39) |
| Degree | −0.706** |
|
| (−2.53) |
| Firm_age | −0.0809* |
|
| (−1.90) |
| Size | 1.147** |
|
| (2.20) |
| Managerholding | −0.169 |
|
| (−0.09) |
| Separation | −0.398 |
|
| (−0.12) |
| Top1 | −2.452 |
|
| (−1.31) |
| Tobin’Q | −0.00664 |
|
| (−0.14) |
| Mb | −2.975 |
|
| (−1.30) |
| Cash_Flow | 0.00162 |
|
| (1.48) |
| Growth | −11.76 |
|
| (−1.05) |
| Tangibility | −1.162 |
|
| (−0.35) |
| FemaledirectRatio | 5.379* |
|
| (1.89) |
| _cons | −11.69* |
|
| (−1.70) |
| Industry Control | Yes |
| Year Control | Yes |
| N | 1455 |
| R2 | 0.064 |