Private ownership shares (spriv), government’s financial awareness of and stability of CCBs.

This table reports the results of dynamic panel system GMM regressions analyzing the impact of private ownership shares (spriv) on stability of CCBs and the moderating effect of government’s financial awareness. The dependent variables of Columns 1- 4 are Ln_Z, ROA, CAR and σ(ROA) respectively. Variables are defined in Table 1. The sample period is from 2007 to 2017. In parentheses are t-statistics. ***, **, * indicate statistical significance at the 1%, 5%, and 10% level, respectively.本表格报告了动态面板系统广义矩估计（dynamic panel system GMM）回归的分析结果，旨在考察私有股权占比（spriv）对城市商业银行（CCBs）稳定性的影响，以及政府金融意识的调节效应。第1至4列的被解释变量依次为Ln_Z、资产收益率（ROA）、资本充足率（CAR）与σ(ROA)。变量定义详见表1。样本区间为2007年至2017年。括号内为t统计量。***、**、*分别代表在1%、5%和10%的显著性水平上统计显著。