Table 9.
Sub-sample regression results of the intermediary effect of pension funds.
| Variable | East | Central Section | West |
|---|---|---|---|
| constant | −0.652 (−1.429) |
−2.897 ** (−3.721) |
1.159 (1.404) |
| A oP | −0.157 (−1.366) |
0.025 (0.199) |
−0.069 (−0.385) |
| PFE | 0.208 ** (8.391) |
0.327 ** (8.354) |
0.080 * (2.019) |
| UBR | 0.709 ** (3.070) |
−0.294 (−1.370) |
0.319 (1.701) |
| PEL | 0.434 ** (5.054) |
0.531 ** (5.569) |
0.433 ** (4.907) |
| N PGR | 0.096 ** (2.798) |
0.064 ** (3.125) |
0.020 (0.249) |
| sample capacity | 132 | 96 | 144 |
| adjust R2 | 0.802 | 0.846 | 0.619 |
| F | F(5126) = 106.882, p = 0.000 |
F(590)=105.066, p = 0.000 |
F(5138) = 47.540, p = 0.000 |
Note: ** p < 0.01; * p < 0.05%; F: F statistic.