TABLE 2.
Regression analysis of the impact of information asymmetry on investment efficiency.
| Variable name | Coefficient | Standard deviation | T-value | p-value |
| Constant | 0.9413*** | 0.2031 | 4.31 | 0.000 |
| IAit | 0.0119** | 0.0029 | 2.35 | 0.019 |
| Sizeit–1 | −0.0596*** | 0.0070 | −8.03 | 0.000 |
| Fcfit–1 | 0.0018 | 0.0018 | 0.99 | 0.320 |
| Qit–1 | −0.0058 | 0.0091 | −0.71 | 0.497 |
| QXit–1 | 0.0117 | 0.0261 | 0.45 | 0.661 |
| DSit–1 | 0.0229*** | 0.0068 | 4.01 | 0.000 |
| JSit–1 | 0.0053 | 0.0139 | 0.53 | 0.601 |
| DLit–1 | 0.7694*** | 0.2011 | 3.81 | 0.000 |
| Year | Control | Control | Control | Control |
*** and ** represented significance at the 1% and 5% levels.