Table 7 Regression results of power influence of SOE executives and investment efficiency.
(1) Invest | (2) Invest | (3) Invest | (4) Invest | (5) Invest | |
|---|---|---|---|---|---|
Score | −0.003* (−1.753) | ||||
Lev | 0.018* (1.807) | 0.017* (1.782) | 0.017* (1.740) | 0.017* (1.730) | 0.017* (1.730) |
ROA | 0.032* (1.820) | 0.032* (1.818) | 0.031* (1.807) | 0.031* (1.802) | 0.031* (1.806) |
Cash | −0.001 (−0.115) | −0.001 (−0.103) | −0.001 (−0.098) | −0.001 (−0.080) | −0.001 (−0.082) |
Year/Industry | Yes | Yes | Yes | Yes | Yes |
Constant | 0.039*** (6.566) | 0.039*** (6.567) | 0.039*** (6.608) | 0.039*** (6.527) | 0.039*** (6.598) |
F | 11.650 | 11.620 | 11.543 | 11.710 | 11.513 |
Adj-R2 | 0.068 | 0.068 | 0.067 | 0.067 | 0.067 |
