Discrete Dynamics in Nature and Society / 2014 / Article / Tab 5

Research Article

The Relations between QFII Holdings and Company Performance: Evidence from China’s A-Share Listed Companies

Table 5

Regression results of QFII investment ratio in period ( ) and company performance according to MODEL I.

VariablesROAROETobin’s Q

Constant0.11531***0.17056**1.86739***
4.41143 2.03436 11.04490
MaxQFII(−1)0.00849***0.02662**0.06213**
3.42647 2.55455 2.46714
Size0.00000**0.00000**0.00000
2.21042 2.24849 0.09737
Share0.00047***0.00075**0.00320
2.94002 2.29432 1.40466
Lev−0.21255***−0.35712 −1.24395***
−3.45720 −1.57304 −4.10290
Sal0.00008 0.00051 0.00425***
0.54543 0.86615 7.63855
Tat0.01797***0.03794***0.21312*
2.85683 3.01675 1.90997
IndustryYesYesYes
YearYesYesYes

Sample247247247
0.34122 0.03430 0.11295
Adjusted 0.33309 0.02233 0.10200
-statistic41.95437 2.86483 10.31351
Prob. 0.00000 0.00943 0.00000

Notes. ***,**,*denote statistical significance at the 1%, 5%, and 10% levels, respectively. The upper values of the regression results are regression coefficients while the lower ones are corresponding statistics.

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