Discrete Dynamics in Nature and Society / 2014 / Article / Tab 9

Research Article

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

Table 9

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

VariablesCROACROECTobin’s Q

Constant−0.01755**−0.01479 −0.87958***
−2.18180 −1.03486 −4.34624
MaxQFII(−1)0.00200***0.00467***−0.00511
3.04878 2.78349 −0.35149
Size0.00000***0.00000***0.00000
4.02036 3.24496 −0.59170
Share−0.00007 −0.00027 0.00538*
−0.73445 −1.14166 1.93553
Lev−0.01048 −0.03748*0.74865**
−1.07672 −1.66090 2.44204
Sal0.00046***0.00177***−0.00524**
4.39394 7.82854 −2.00151
Tat0.02136***0.02249*−0.11674
3.51361 1.83851 −1.04473
IndustryYesYesYes
YearYesYesYes

Sample888888
0.07784 0.05540 0.09094
Adjusted 0.04510 0.02167 0.05866
-statistic2.37751 2.64230 2.93642
Prob. 0.03130 0.01839 0.01042

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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