| 自变量 | 1998—2002年 | 2013—2017年 | |||
|---|---|---|---|---|---|
| Count | Inflate | Count | Inflate | ||
| 国家（地区）关系层面 | |||||
| 宗教邻近性 | 2.07606** | 1.26557 | 0.96319** | 1.17986 | |
| (0.82521) | (1.89509) | (0.42215) | (1.02313) | ||
| 历史邻近性 | 1.18408*** | -1.76779* | 1.36479*** | 0.08108 | |
| (0.40056) | (0.92551) | (0.24085) | (0.66724) | ||
| 语言邻近性 | 0.51888 | -2.89416** | 0.24949 | -4.82217*** | |
| (0.52423) | (1.20491) | (0.24215) | (1.43171) | ||
| 地理距离 | -0.00048*** | -0.00024 | -0.00028*** | 0.00018 | |
| (0.00015) | (0.00041) | (0.00006) | (0.00013) | ||
| 国家（地区）属性层面 | |||||
| 并购方科技发展水平 | 0.61983*** | -0.22923 | 0.56376*** | 0.04007 | |
| (0.20394) | (0.41636) | (0.10075) | (0.24341) | ||
| 并购方经济市场规模 | -0.44968** | -0.83641 | -0.23388 | -1.45982*** | |
| (0.22307) | (0.72544) | (0.15153) | (0.39720) | ||
| 并购方和平稳定程度 | -0.77542*** | -2.84673*** | 0.02119 | -1.37120*** | |
| (0.22229) | (1.10342) | (0.13434) | (0.37851) | ||
| 标的方科技发展水平 | 0.28584* | 0.55602 | 0.07468 | -0.24899 | |
| (0.17211) | (0.39413) | (.07115) | (0.19608) | ||
| 标的方经济市场规模 | 0.45884** | -0.19059 | 0.87575*** | 1.14450*** | |
| (0.21726) | (0.47096) | (0.10980) | (0.38864) | ||
| 标的方和平稳定程度 | 0.36390 | 0.14452 | 0.31605** | -0.30362 | |
| (0.24692) | (0.55880) | (0.12362) | (0.36642) | ||
| 常数项 | -5.29965 | 26.84767 | -20.88290*** | 7.69044 | |
| (6.88706) | (16.45801) | (4.41226) | (10.70618) | ||
| Vuong-test | 3.07*** | 3.80*** | |||
| Prob>chi2 | 0.0000 | 0.0000 | |||
| Observations | 4096 | 4096 | |||
