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Table 5 Effects of foreign residency rights on Post-IPO firm size and performance

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

  LOG_SALES LOG_EMPLOY ROA LEV
(1) (2) (3) (4)
TREATED×POST −0.070a (−3.22) − 0.108b (−2.16) −0.017b (−2.53) 0.004c (2.00)
TREATED 0.088 (1.44) 0.106 (1.55) 0.022b (2.72) −0.010a (−2.99)
POST 0.550a (14.72) 0.428a (10.87) −0.147a (−14.44) − 0.004 (− 1.57)
Industry fixed effects included? Yes Yes Yes Yes
No. of obs. 5513 4820 4594 5463
Adjusted R2 0.211 0.114 0.347 0.053
  1. This table presents DID results for main variables of firm outcomes around IPO. t-values are reported in parentheses. The sample includes 918 non-state IPO firms for the period 2006 to 2012 that have the post-IPO period of at least 3 years. See Appendix for variable definitions
  2. a, b, and c stand for significance at the 1, 5, and 10% level, respectively