The effects of entrepreneurial long-term commitment on post-IPO performance: Chinese evidence

Frontiers of Business Research in China

Table 3 Factors affect entrepreneurs’ possession of foreign residency rights

	DUMMY_ID
	(1)	Marginal effects (dy/dx)
SIZE_IPO	0.380^a (4.72)	0.034
ROA_IPO	2.653^a (9.82)	0.238
LEV_IPO	−1.323 (−1.46)	−0.119
FIRM_AGE	0.053^a (11.50)	0.005
OVERSEAS_STUDY	0.581^b (1.98)	0.052
OVERSEAS_WORK	3.386^a (22.74)	0.304
MULTISHAREHOLDERS	0.672^a (7.37)	0.060
DUMMY_SH	1.558^a (8.68)	0.140
DUMMY_FJ_GD	0.757^a (7.32)	0.068
Industry fixed effects included?	Yes
No. of obs.	1161
Pseudo R²	0.273

This table presents results of a logit regression of entrepreneurs’ possession of foreign residency rights on some firm, region and individual characteristics. The table shows the baseline estimation results, along with marginal effects. t-values are reported in parentheses. Standard error is clustered at the industry level. The sample includes 1218 non-state IPO firms for the period 2006 to 2015. See Appendix for variable definitions
^a, ^b, and ^c stand for significance at the 1, 5, and 10% level, respectively