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PHỤ LỤC 08KẾT QUẢ HỒI QUY THEO PHƯƠNG PHÁP 2SLS

PHỤ LỤC 08KẾT QUẢ HỒI QUY THEO PHƯƠNG PHÁP 2SLS

Tải bản đầy đủ

8.2. Kết quả hồi quy mô hình 3.1 với nhóm không tồn tại cấu trúc kim tự tháp
Two-stage least-squares regression
Equation

Obs

Parms

RMSE

"R-sq"

F-Stat

P

tobinq
cgi

237
237

11
10

.333335
4.595484

0.3107
0.2426

12.65
7.24

0.0000
0.0000

Coef.

Std. Err.

t

P>|t|

[95% Conf. Interval]

tobinq
cgi
tobinq_a
bod_size
bod_ind
fam_own
fam_own2
size
firm_age
roa
cap_exp
lever
_cons

.0369739
-.129635
.0097262
.0504764
-.0017427
-.0000123
-.0874711
.0719581
2.577916
.3004811
.566911
.9825726

.0164532
.0591756
.0192804
.0988769
.00432
.0000704
.0307839
.0417938
.4410487
.4551862
.1783894
.618815

2.25
-2.19
0.50
0.51
-0.40
-0.18
-2.84
1.72
5.84
0.66
3.18
1.59

0.025
0.029
0.614
0.610
0.687
0.861
0.005
0.086
0.000
0.510
0.002
0.113

.0046393
-.2459291
-.0281643
-.1438402
-.0102325
-.0001506
-.1479688
-.0101766
1.711151
-.5940681
.2163333
-.2335461

.0693084
-.0133409
.0476167
.244793
.0067472
.0001259
-.0269734
.1540927
3.444682
1.19503
.9174886
2.198691

tobinq_a
bod_size
bod_ind
fam_own
fam_own2
size
firm_age
roa
cap_exp
lever
_cons

.9701731
.601553
-1.518183
-.1068605
.0020109
1.239255
-.1560899
16.60416
-15.23806
1.641567
7.94346

.7855756
.2281106
1.318939
.0544013
.000856
.3179567
.575096
4.773552
5.237669
2.430993
8.338775

1.23
2.64
-1.15
-1.96
2.35
3.90
-0.27
3.48
-2.91
0.68
0.95

0.217
0.009
0.250
0.050
0.019
0.000
0.786
0.001
0.004
0.500
0.341

-.5736698
.1532614
-4.110212
-.213772
.0003287
.6143949
-1.28629
7.222992
-25.53133
-3.135912
-8.444218

2.514016
1.049845
1.073845
.000051
.0036931
1.864116
.9741105
25.98532
-4.944797
6.419047
24.33114

cgi

Endogenous variables: tobinq cgi
Exogenous variables:
2013.year 2014.year tobinq_a bod_size bod_ind fam_own
fam_own2 size firm_age roa cap_exp lever

8.3. Kết quả hồi quy mô hình 3.1 với nhóm có tồn tại cấu trúc kim tự tháp
Two-stage least-squares regression
Equation
tobinq
cgi

Obs

Parms

RMSE

"R-sq"

F-Stat

P

72
72

11
10

.5281731
3.55397

0.3135
0.4798

4.90
5.63

0.0000
0.0000

Coef.

Std. Err.

t

P>|t|

[95% Conf. Interval]

tobinq
cgi
tobinq_a
bod_size
bod_ind
fam_own
fam_own2
size
firm_age
roa
cap_exp
lever
_cons

.0858924
.4640799
-.0808401
.7434056
-.0079788
.0000274
-.0484037
.0372922
1.587311
1.065385
.9112244
-2.372319

.0780725
.3474847
.102265
.664481
.0350759
.0010107
.1036544
.2721599
2.347379
1.16456
.8647949
2.470731

1.10
1.34
-0.79
1.12
-0.23
0.03
-0.47
0.14
0.68
0.91
1.05
-0.96

0.273
0.184
0.431
0.265
0.820
0.978
0.641
0.891
0.500
0.362
0.294
0.339

-.0686726
-.2238578
-.2833007
-.57211
-.0774208
-.0019735
-.2536149
-.5015201
-3.059944
-1.240169
-.8008652
-7.263782

.2404575
1.152018
.1216205
2.058921
.0614632
.0020284
.1568075
.5761045
6.234566
3.370938
2.623314
2.519144

tobinq_a
bod_size
bod_ind
fam_own
fam_own2
size
firm_age
roa
cap_exp
lever
_cons

2.736256
.8583811
-7.64802
-.1865124
.0075817
.8182207
3.011114
22.11173
2.43338
-7.785873
7.136579

1.844102
.5197753
1.961844
.2147196
.0055127
.5492741
.9227534
10.70284
7.731115
4.139023
16.19681

1.48
1.65
-3.90
-0.87
1.38
1.49
3.26
2.07
0.31
-1.88
0.44

0.140
0.101
0.000
0.387
0.172
0.139
0.001
0.041
0.753
0.062
0.660

-.9146299
-.1706512
-11.53201
-.6116065
-.0033321
-.2692123
1.18428
.9226289
-12.8724
-15.98016
-24.92928

6.387141
1.887413
-3.764032
.2385816
.0184955
1.905654
4.837948
43.30082
17.73916
.4084148
39.20243

cgi

Endogenous variables: tobinq cgi
Exogenous variables:
2013.year 2014.year tobinq_a bod_size bod_ind fam_own
fam_own2 size firm_age roa cap_exp lever

8.4. Kết quả hồi quy mô hình 3.1 với nhóm mẫu sở hữu gia đình cao và có tồn
tại cấu trúc kim tự tháp
Two-stage least-squares regression
Equation
tobinq
cgi

Obs

Parms

RMSE

"R-sq"

F-Stat

P

17
17

9
8

.4195731
3.392592

0.4945
0.6730

1.49
2.06

0.2385
0.1087

Coef.

Std. Err.

t

P>|t|

[95% Conf. Interval]

tobinq
cgi
tobinq_a
bod_size
bod_ind
size
firm_age
roa
cap_exp
lever
_cons

-.1142232
-.3862656
-.2124329
-1.282452
-.5924809
-.9913238
.0870449
.8637793
-1.622712
28.51777

.2868237
.9153823
.8156387
2.055895
.5294775
2.559724
8.303084
5.420122
4.482412
40.74163

-0.40
-0.42
-0.26
-0.62
-1.12
-0.39
0.01
0.16
-0.36
0.70

0.696
0.679
0.798
0.542
0.281
0.704
0.992
0.876
0.722
0.495

-.7255734
-2.337357
-1.950926
-5.664488
-1.721036
-6.447246
-17.61056
-10.68894
-11.17675
-58.32097

.497127
1.564826
1.52606
3.099584
.5360738
4.464598
17.78465
12.41649
7.931322
115.3565

tobinq_a
bod_size
bod_ind
size
firm_age
roa
cap_exp
lever
_cons

-2.364135
-2.536879
-5.455978
-1.30374
-8.648176
-20.08195
10.53453
-15.05594
136.6131

4.972081
2.979827
10.78109
3.030971
5.109435
48.35551
36.38433
9.714559
90.22288

-0.48
-0.85
-0.51
-0.43
-1.69
-0.42
0.29
-1.55
1.51

0.641
0.408
0.620
0.673
0.111
0.684
0.776
0.142
0.151

-12.96188
-8.888231
-28.43534
-7.764102
-19.53868
-123.1493
-67.01684
-35.76203
-55.6924

8.233606
3.814472
17.52338
5.156622
2.242328
82.98539
88.0859
5.650152
328.9186

cgi

Endogenous variables: tobinq cgi
Exogenous variables:
2013.year 2014.year tobinq_a bod_size bod_ind size
firm_age roa cap_exp lever

8.5. Kết quả hồi quy mô hình 3.1 với nhóm mẫu sở hữu gia đình thấp và có
tồn tại cấu trúc kim tự tháp
Two-stage least-squares regression
Equation
tobinq
cgi

Obs

Parms

RMSE

"R-sq"

F-Stat

P

55
55

9
8

.4591488
3.224609

0.5620
0.5733

7.01
7.73

0.0000
0.0000

Coef.

Std. Err.

t

P>|t|

[95% Conf. Interval]

tobinq
cgi
tobinq_a
bod_size
bod_ind
size
firm_age
roa
cap_exp
lever
_cons

.0293866
.7189423
-.0360186
.2373013
.015743
.2552078
3.024182
1.042043
.5546391
-2.635276

.0695273
.3596009
.1123369
.6989305
.1135209
.2915983
2.04725
1.033643
.8267432
2.381825

0.42
2.00
-0.32
0.34
0.14
0.88
1.48
1.01
0.67
-1.11

0.674
0.049
0.749
0.735
0.890
0.384
0.143
0.316
0.504
0.271

-.1087209
.0046393
-.259162
-1.151038
-.2097523
-.3240163
-1.042429
-1.011161
-1.087585
-7.36648

.1674942
1.433245
.1871248
1.625641
.2412383
.8344319
7.090794
3.095247
2.196863
2.095927

tobinq_a
bod_size
bod_ind
size
firm_age
roa
cap_exp
lever
_cons

3.451968
1.131106
-9.082388
1.129046
3.693614
19.63747
.1842826
-7.721776
-4.726842

1.880671
.5633704
2.103905
.5759217
.9700815
10.71344
7.258728
4.415403
16.56759

1.84
2.01
-4.32
1.96
3.81
1.83
0.03
-1.75
-0.29

0.070
0.048
0.000
0.053
0.000
0.070
0.980
0.084
0.776

-.2837538
.0120395
-13.26154
-.0149513
1.766667
-1.643457
-14.23429
-16.49243
-37.63633

7.18769
2.250172
-4.90324
2.273044
5.620562
40.9184
14.60285
1.04888
28.18265

cgi

Endogenous variables: tobinq cgi
Exogenous variables:
2013.year 2014.year tobinq_a bod_size bod_ind size
firm_age roa cap_exp lever