Table 3 Baseline regression results (1)...

Table 3

Baseline regression results

	(1)	(2)	(3)	(4)	(5)
$\ln d d r$	0.0389***
$\ln d d r$	(0.0028)
$\ln d s r$		0.0938***
$\ln d s r$		(0.0051)
$\ln d i r$			0.0298***
$\ln d i r$			(0.0021)
$\ln i n d i r$				−0.1541***
$\ln i n d i r$				(0.0048)
$\ln o T L P$					0.2906***
$\ln o T L P$					(0.0099)
Constant	0.0884***	0.0917***	0.0962***	0.0429***	−1.0568***
Constant	(0.0005)	(0.0006)	(0.0012)	(0.0012)	(0.0388)
Individual FE	Yes	Yes	Yes	Yes	Yes
Time FE	Yes	Yes	Yes	Yes	Yes
N	25,102	25,102	24,957	25,102	25,102
$R^{2}$	0.8195	0.8244	0.8206	0.8482	0.8365

	(1)	(2)	(3)	(4)	(5)
$\ln d d r$	0.0389***
$\ln d d r$	(0.0028)
$\ln d s r$		0.0938***
$\ln d s r$		(0.0051)
$\ln d i r$			0.0298***
$\ln d i r$			(0.0021)
$\ln i n d i r$				−0.1541***
$\ln i n d i r$				(0.0048)
$\ln o T L P$					0.2906***
$\ln o T L P$					(0.0099)
Constant	0.0884***	0.0917***	0.0962***	0.0429***	−1.0568***
Constant	(0.0005)	(0.0006)	(0.0012)	(0.0012)	(0.0388)
Individual FE	Yes	Yes	Yes	Yes	Yes
Time FE	Yes	Yes	Yes	Yes	Yes
N	25,102	25,102	24,957	25,102	25,102
$R^{2}$	0.8195	0.8244	0.8206	0.8482	0.8365

Note(s): Robust standard errors clustered at the city-industry level are in parentheses. ***, **, and * indicate significance at the 1%, 5%, and 10% levels, respectively. This notation applies consistently to all subsequent tables

Source(s): Authors’ work

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