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总 经 理 为 股 东Pre-tax profitrateLog (Sales peremployee)Log (Hourlywage)Log (Monthlyworking hour)manager_shareholder 0.007 -0.055 -0.089*** 0.032***[0.83] [0.86] [3.52] [2.78]Log (employment) 0.003 -0.175*** 0.062*** 0.001[1.05] [7.24] [6.50] [0.13]Log (capital_labour_ratio) 0.009*** 0.342*** 0.072*** -0.015***[2.61] [13.87] [7.35] [3.38]Constant 0.049* 7.043*** 1.887*** 5.046***[1.81] [34.87] [23.62] [137.95]Observations 839 839 839 839R-sq 0.082 0.413 0.398 0.166大 股 东 数 目Pre-tax profitrateLog (Sales peremployee)Log (Hourlywage)Log (Monthlyworking hour)large_shareholder -0.002 -0.012 -0.013 0.003[0.59] [0.44] [1.26] [0.55]Log (employment) 0.006* -0.162*** 0.064*** 0[1.73] [6.09] [6.15] [0.02]Log (capital_labour_ratio) 0.008** 0.322*** 0.066*** -0.017***[2.49] [11.89] [6.14] [3.47]Constant 0.048* 7.022*** 1.815*** 5.055***[1.71] [31.45] [20.57] [121.87]Observations 685 685 685 685R-sq 0.114 0.387 0.366 0.134定 期 外 部 审 计Pre-tax profitrateLog (Sales peremployee)Log (Hourlywage)Log (Monthlyworking hour)external_audit 0 0.045 0.093*** -0.040***[0.01] [0.73] [3.81] [3.70]Log (employment) 0.005 -0.150*** 0.071*** 0[1.49] [6.35] [7.59] [0.06]Log (capital_labour_ratio) 0.007** 0.339*** 0.069*** -0.014***[2.01] [13.62] [7.01] [3.21]Constant 0.053* 6.858*** 1.730*** 5.092***[1.89] [34.29] [21.83] [143.52]Observations 864 864 864 864R-sq 0.064 0.396 0.398 0.187定 期 向 股 东 通 报 重 要 信 息Pre-tax profit Log (Sales per Log (Hourly Log (Monthlyrate employee) wage) working hour)regular_report 0.019** 0.069 0.02 -0.024*[2.13] [1.00] [0.71] [1.87]Log (employment) 0.003 -0.146*** 0.072*** -0.002[1.08] [5.96] [7.45] [0.36]Log (capital_labour_ratio) 0.006* 0.337*** 0.075*** -0.017***[1.78] [13.32] [7.41] [3.76]Constant 0.025 6.813*** 1.736*** 5.098***[0.92] [31.93] [20.48] [132.22]Observations 808 808 808 808R-sq 0.091 0.399 0.380 0.16615