Table 10 Analysis of property rights and... | Emerald Publishing

Table 10

Analysis of property rights and property heterogeneity

Variables	State-owned enterprise group		Nonstate-owned enterprise group
Variables	GI	p-value	GI	p-value
ESG	−0.199	0.160	0.084***	0.013
Age	0.317	0.342	−0.113***	0.029
Size	0.821*	0.303	0.470***	0.017
Lev	−2.204	1.242	0.481***	0.099
Growth	−0.295	0.449	0.045	0.033
RD	−0.018	0.064	0.019***	0.004
Indep	−1.280	3.601	−0.383	0.260
TobinQ	0.149	0.305	0.022***	0.007
Duality	−0.181	0.590	−0.059*	0.030
_cons	−24.459	27.351	−8.930***	0.385
Ind	Yes		Yes
Year	Yes		Yes
r2_a	0.631		0.373
F	0.186		0.365

Variables	State-owned enterprise group		Nonstate-owned enterprise group
Variables	GI	p-value	GI	p-value
ESG	−0.199	0.160	0.084***	0.013
Age	0.317	0.342	−0.113***	0.029
Size	0.821*	0.303	0.470***	0.017
Lev	−2.204	1.242	0.481***	0.099
Growth	−0.295	0.449	0.045	0.033
RD	−0.018	0.064	0.019***	0.004
Indep	−1.280	3.601	−0.383	0.260
TobinQ	0.149	0.305	0.022***	0.007
Duality	−0.181	0.590	−0.059*	0.030
_cons	−24.459	27.351	−8.930***	0.385
Ind	Yes		Yes
Year	Yes		Yes
r2_a	0.631		0.373
F	0.186		0.365

Note(s): ***, ** and * indicate significant confidence levels at 1, 5 and 10%, respectively

Source(s): Developed by the authors