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Table 5 Different administrative levels of government-controlled networks and interlocking directorate networks: 2004–2010, QAP logistic regression

From: Property rights and the formation of interfirm networks: a network analysis of the interlocking directorates in China’s listed companies

 

2004

2005

2006

2007

2008

2009

2010

Government-controlled networks

1.44***

1.52***

1.40***

1.47***

1.49***

1.58***

1.60***

Regional networks

5.25***

5.07***

4.41***

4.49***

4.63***

4.12***

3.80***

Industry networks

1.21**

1.21***

1.20**

1.27***

1.27***

1.21***

1.24***

Total assets networks

5.3e + 04**

1.41***

1.47***

1.37***

1.37***

1.37***

1.37***

Age networks

1.3e − 43**

1.04**

1.04**

1.04**

1.03***

1.02*

1.01

Debt/Asset Networks

.74

1.03

1.20

1.40*

.89

.83

.74*

ROE Networks

1.09

.66

.85

1.02

.91**

.99

.85

Intercept

2.2e + 94

4.8e − 07

1.9e − 07

7.3e − 07

7.7e − 07

9.7e − 07

9.9e − 07

The number of Dyads

967272

1184832

1029210

1287090

1680912

1536360

1472582

Pseudo R2 (%)

5.50

5.50

4.80

4.70

5.00

4.40

4.00

LL

−8116.70

−9627.90

−8317.00

−10298.00

−13471.30

−12237.80

−11097.30

  1. The coefficients in the table are all odds ratios. All models have 500 occurrences of random permutation. All network independent variables are lagged by one year
  2. The one-tail test of QAP distribution, †p < 0.1; *p < 0.05; **p < 0.01; ***p < 0.001