The Impact of Goodwill Recognition and Goodwill Impairment on the Increasing Holdings of Block Shareholders

Table 11

State-owned firms versus privately owned firms: the influence of GI.

Variables	State-owned companies		Privately owned companies company companies
	(1)	(2)	(3)	(4)
GIQ	−0.0196 (0.721)	0.1960 (0.376)	0.0067 (0.615)	0.0273 (0.102)
ES		0.1067 (0.020)		0.0132 (0.028)
OC		0.0090 (0.505)		0.0058 (0.140)
BS		−0.0185 (0.238)		0.0019 (0.497)
PB		0.0004 (0.174)		0.0006 (0.311)
LCD		−0.1456 (0.259)		−0.0142 (0.332)
CCM		0.0099 (0.848)		0.0004 (0.843)
Constant	−0.0044 (0.623)	−2.3069 (0.020)	0.0138 (0.274)	−0.2872 (0.031)
Year&industry	Included	Included	Included	Included
Observations	83	83	523	523
R-squared	0.1197	0.4835	0.1006	0.1674

Notes. statistics are in parentheses. , , and .