Discrete Dynamics in Nature and Society / 2014 / Article / Tab 8

Research Article

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

Table 8

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

VariablesCROACROECTobin’s Q

Constant0.03032 −0.03107 −0.42509***
0.74699 −1.39079 −5.03189
MaxQFII(−2)0.00493 −0.00199 −0.00827
1.44008 −0.45074 −0.70662
Size0.00000 0.00000 0.00000
1.59043 0.20419 −1.29006
Share0.00016 −0.00021 0.00163
0.78211 −0.60593 1.09693
Lev−0.12202 0.03209 0.49343***
−1.25216 0.46746 3.41901
Sal0.00027**0.00038**0.00263***
2.06836 2.55080 3.69150
Tat0.00277 −0.00455 −0.01835
0.56454 −0.48566 −0.40938
IndustryYesYesYes
YearYesYesYes

Sample247247247
0.12444 0.00548 0.06806
Adjusted 0.10246 −0.01970 0.04466
-statistic5.66113 0.21763 2.90893
Prob. 0.00002 0.97093 0.00934

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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