Table 10 Influence of firm ownership
From: Resignation of officials as independent directors and firm performance
| Â | (1) | (2) | (3) | (4) |
|---|---|---|---|---|
ROA | ROE | Tobin’s Q | LEV | |
Treat×Post | 0.0008 (0.0024) | 0.0053 (0.0046) | 0.1004 (0.0614) | 0.0476 (0.0443) |
Ownership | −0.0136** (0.0055) | −0.0234** (0.0110) | −0.1014 (0.1335) | 0.2845** (0.1322) |
Treat×Post×Ownership | −0.0003 (0.0030) | −0.0098 (0.0061) | −0.5183*** (0.0721) | 0.1395** (0.0667) |
Control variable | YES | YES | YES | YES |
Firm fixed effect | YES | YES | YES | YES |
Year fixed effect | YES | YES | YES | YES |
N | 18,942 | 18,798 | 18,026 | 17,444 |
Adj_R2 | 0.0768 | 0.0606 | 0.3592 | 0.0384 |
F | 34.9520 | 28.1526 | 128.7995 | 17.0776 |