Table 5.

Regression results of financing constraints and firm performance.

Variable	Model (1)
β 0	5.7713∗∗∗
KZ	0.1517∗∗∗
AGE	−0.0905∗∗∗
LEV	−4.8085∗∗∗
BPS	0.0218∗∗∗
R 2	0.11

Note. ^∗∗∗, ^∗∗, ^∗ are significant at the 1%, 5%, and 10% levels, respectively.