Discrete Dynamics in Nature and Society / 2014 / Article / Tab 7

Research Article

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

Table 7

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

VariablesCROACROECTobin’s Q

Constant0.02217 0.25365−0.67125***
0.84817 1.18952 −6.56337
MaxQFII(−1)0.00309 −0.01657 −0.04722**
1.36791 −0.55919 −2.10425
Size0.00000 0.00000 0.00000
1.42781 −0.25222 0.56848
Share−0.00003 −0.00490 0.00221
−0.17379 −1.00645 1.32378
Lev−0.07030 0.01079 0.65454***
−1.15191 0.03470 4.09037
Sal0.00025***−0.00023 0.00300***
3.31425 −0.25646 3.38701
Tat0.00385 −0.07649 −0.04019
1.08949 −0.89436 −1.01220
IndustryYesYesYes
YearYesYesYes

Sample247247247
0.03474 0.00297 0.05507
Adjusted 0.02282 −0.00942 0.04341
-statistic2.91490 0.23960 4.72068
Prob. 0.00840 0.96329 0.00011

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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