|
| (1) | (2) | (3) |
| EPS | EPS | EPS | |
| ESG | 0.2070*** | 0.1415*** | 0.1378*** |
| (36.4677) | (24.0553) | (22.9538) | |
| IPO |
| 0.0140*** | 0.0126*** |
|
| (13.4634) | (11.5886) | |
| SOE |
| −0.1120*** | −0.0876*** |
|
| (−6.8751) | (−5.2642) | |
| Size |
| 0.1144*** | 0.1215*** |
|
| (21.2292) | (20.3189) | |
| Lev |
| −0.0381*** | −0.0372*** |
|
| (−6.6741) | (−6.5227) | |
| Growth |
| 0.0015 | 0.0015 |
|
| (1.6050) | (1.5944) | |
| Share |
| 0.7193*** | 0.7637*** |
|
| (14.7787) | (15.4434) | |
| Asset_turnover |
| 0.2156*** | 0.2296*** |
|
| (17.0993) | (16.8612) | |
| GDP |
| 0.0003 | 0.0015 |
|
| (0.1206) | (0.6444) | |
| BM |
| −0.0114*** | −0.0106*** |
|
| (−6.8732) | (−6.2770) | |
| Constant | −0.4348*** | −31.1499*** | −29.2410*** |
| (−18.0859) | (−14.8047) | (−12.8724) | |
| Year fixed effect | N | Y | Y |
| Industry fixed effect | N | N | Y |
| Sample size | 24,884 | 24,821 | 24,821 |
| Adjusted R2 | 0.0507 | 0.1105 | 0.1155 |