Table 4 Regression analysis results of business environment on enterprise resilience.
Variables | (1) | (2) | (3) |
|---|---|---|---|
Resilience | Resilience | Resilience | |
BE | 0.447*** | 0.120*** | 0.073*** |
(19.74) | (4.10) | (2.60) | |
Size | 0.037*** | ||
(14.01) | |||
Lev | −0.019** | ||
(−2.22) | |||
Soe | −0.003 | ||
(−0.53) | |||
Age | 0.065*** | ||
(3.56) | |||
INV | 0.031** | ||
(2.26) | |||
Dual | −0.000 | ||
(−0.20) | |||
Board | 0.003 | ||
(0.47) | |||
Top1 | 0.010 | ||
(0.64) | |||
INST | 0.043*** | ||
(7.44) | |||
ROA | −0.007 | ||
(−0.99) | |||
BM | 0.013*** | ||
(7.88) | |||
Year/ Industry | N | Y | Y |
_cons | 0.418*** | 0.571*** | −0.442*** |
(68.04) | (30.51) | (−5.83) | |
Number of observations | 21142 | 21142 | 21142 |
Adj R2 | 0.043 | 0.256 | 0.292 |
