Research Article
Centralization and Firm Performance: New Evidence on the Role of Firm Size
Table 13
Regression results for the investment efficiency influence mechanism.
| | (1) | (2) () | (3) () |
| | Variables | InvEff | | Cen | -3.430 | -8.807 | -0.752 | | (2.263) | (4.195) | (3.680) | | Size | 0.993 | 0.963 | 1.095 | | (0.051) | (0.073) | (0.070) | | c.Cen#c.Size | 0.161 | 0.418 | 0.031 | | (0.101) | (0.196) | (0.160) | | _cons | -21.140 (1.097) | -19.357 (1.489) | -21.849 (1.595) | | | Control variable | Yes | Yes | Yes | | Firm | Yes | Yes | Yes | | Year | Yes | Yes | Yes | | 10,503 | 7473 | 4580 | | 0.179 | 0.119 | 0.173 | | 0.179 | 0.117 | 0.170 |
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Standard errors in parentheses. , , and . |
