Discrete Dynamics in Nature and Society / 2014 / Article / Tab 6

Research Article

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

Table 6

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

VariablesROAROETobin’s Q

Constant0.12674***0.06946***1.66543***
3.14283 3.16050 8.63443
MaxQFII(−2)0.00993***0.01666***0.05709**
2.80691 5.14342 2.05416
Size0.00000**0.00000***0.00000
2.10072 5.66414 −0.17631
Share0.00056**0.00077**0.00277
2.44543 2.15816 1.26991
Lev−0.26210***−0.11981***−0.94633***
−2.72848 −3.42330 −2.60462
Sal0.00011 0.00031 0.00432***
0.62405 1.03791 8.51312
Tat0.01506***0.02775*0.17935
2.92032 1.87526 1.59534
IndustryYesYesYes
YearYesYesYes

Sample247247247
0.36985 0.11315 0.08934
Adjusted 0.35403 0.09070 0.06648
-statistic23.37894 5.03950 3.90792
Prob. 0.00000 0.00007 0.00096

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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