Table 5.
Scrambled time distribution regression.
| (1) | (2) | |
|---|---|---|
| preGP | GP | |
| DDD | 0.0149 | 0.0944 |
| [0.1286] | [0.1006] | |
| DD | 0.372*** | 0.218*** |
| [0.0432] | [0.0420] | |
| treat | 0.316 * | 0.142 |
| [0.1233] | [0.0967] | |
| treat | 0.222*** | 0.118 * * |
| [0.0421] | [0.0408] | |
| group | 0.0755*** | −0.0375 |
| [0.0221] | [0.0208] | |
| LnAssets | 0.484*** | |
| [0.0105] | ||
| Leverage | −0.0237 | |
| [0.0465] | ||
| ROA | −0.194 | |
| [0.1136] | ||
| ROE | 0.0148 | |
| [0.0147] | ||
| Cash | 0.402*** | |
| [0.1020] | ||
| Growth | - | 0.00000364 |
| [0.0000] | ||
| BM | 0.126*** | |
| [0.0109] | ||
| Q | 0.0135*** | |
| [0.0024] | ||
| LnAge | 0.180*** | |
| [0.0229] | ||
| SOE | 0.157*** | |
| [0.0181] | ||
| _cons | 0.806*** | 9.168*** |
| [0.0128] | [0.2237] |
(1) PreGP: the regression result of GP as the dependent variable without control variable after the time distribution is disrupted.
(2) GP: After the time distribution is disrupted, GP is added to the regression result of the control variable as the dependent variable.