Model 1 | Model 2 | Model 3 | |
---|---|---|---|
Poli_Interlock | 0.0559 (0.242) | 0.0586 (0.352) | 0.0292 (0.355) |
Pro_Interlock | −0.437** (0.210) | −0.537** (0.232) | −0.552** (0.237) |
State owned | 0.220 (0.206) | 0.0242 (0.226) | 0.0024 (0.239) |
Num_PoliD | 0.250 (.187) | 0.230 (0.188) | |
Num_ProD | −0.0314 (0.198) | −0.0296 (0.206) | |
No. of employees (LN) | 0.192*** (0.0774) | 0.222 (0.0849) | |
No. of shareholders (LN) | 0.0485 (0.101) | 0.003 (0.111) | |
Special treatment (ST) | −1.038*** (0.410) | −1.099*** (0.427) | |
Industry 1 | −1.202 (1.322) | ||
Industry 2 | −1.548 (1.266) | ||
Industry 3 | −0.896 (1.107) | ||
Industry 4 | −0.751 (1.318) | ||
Industry 5 | −1.009 (1.324) | ||
Industry 6 | −1.072 (1.244) | ||
Industry 7 | −1.743 (1.126) | ||
Industry 8 | −1.135 (1.165) | ||
Industry 9 | −1.398 (1.331) | ||
Industry 10 | −0.621 (1.177) | ||
Industry 11 | −0.499 (1.300) | ||
Industry 12 | −1.454 (1.310) | ||
Constant | 2.538*** (0.184) | 0.566 (0.983) | 1.870 (1.403) |
Sample sizea | 1323 | 1321 | 1321 |