The effect of digital finance for SMEs on entrepreneurship without macroeconomic variables
| MMQR | ||||||
|---|---|---|---|---|---|---|
| ENTit | Location | Scale | Q(0.25) | Q(0.50) | Q(0.75) | 2SLS |
| Panel A: | ||||||
| DFSit | 0.050 (0.039) | −0.038 (0.025) | 0.078* (0.043) | 0.051 (0.039) | 0.022 (0.044) | 0.050 (0.040) |
| Constant | −1.051** (0.446) | 1.595*** (0.281) | −2.239*** (0.499) | −1.099** (0.456) | 0.142 (0.519) | −1.051** (0.433) |
| Panel B: | ||||||
| DFSit | 0.077*** (0.029) | −0.013 (0.018) | 0.088*** (0.031) | 0.078*** (0.029) | 0.066** (0.033) | 0.077*** (0.029) |
| INSTit | 0.486*** (0.038) | −0.080*** (0.023) | 0.554*** (0.042) | 0.489*** (0.038) | 0.420*** (0.046) | 0.486*** (0.040) |
| Constant | −1.335*** (0.319) | 1.015*** (0.196) | −2.210*** (0.362) | −1.372*** (0.322) | −0.500 (0.396) | −1.335*** (0.322) |
| Panel C: | ||||||
| DFSit | 0.079*** (0.029) | −0.016 (0.018) | 0.092*** (0.031) | 0.080*** (0.029) | 0.066* (0.034) | 0.078*** (0.030) |
| DFSit × INSTit | −0.066 (0.098) | 0.064 (0.061) | −0.117 (0.105) | −0.069 (0.097) | −0.014 (0.115) | −0.006 (0.014) |
| INSTit | 0.805* (0.473) | −0.388 (0.296) | 1.113** (0.509) | 0.821* (0.472) | 0.484 (0.558) | 0.549*** (0.145) |
| Constant | −1.357*** (0.329) | 1.036*** (0.206) | −2.182*** (0.366) | −1.401*** (0.330) | −0.500 (0.414) | −1.348*** (0.324) |
| Observations | 179 | 179 | 179 | 179 | 179 | 179 |
| MMQR | ||||||
|---|---|---|---|---|---|---|
| Location | Scale | Q(0.25) | Q(0.50) | Q(0.75) | 2SLS | |
| 0.050 (0.039) | −0.038 (0.025) | 0.078 | 0.051 (0.039) | 0.022 (0.044) | 0.050 (0.040) | |
| Constant | −1.051 | 1.595 | −2.239 | −1.099 | 0.142 (0.519) | −1.051 |
| 0.077 | −0.013 (0.018) | 0.088 | 0.078 | 0.066 | 0.077 | |
| 0.486 | −0.080 | 0.554 | 0.489 | 0.420 | 0.486 | |
| Constant | −1.335 | 1.015 | −2.210 | −1.372 | −0.500 (0.396) | −1.335 |
| 0.079 | −0.016 (0.018) | 0.092 | 0.080 | 0.066 | 0.078 | |
| −0.066 (0.098) | 0.064 (0.061) | −0.117 (0.105) | −0.069 (0.097) | −0.014 (0.115) | −0.006 (0.014) | |
| 0.805 | −0.388 (0.296) | 1.113 | 0.821 | 0.484 (0.558) | 0.549 | |
| Constant | −1.357 | 1.036 | −2.182 | −1.401 | −0.500 (0.414) | −1.348 |
| Observations | 179 | 179 | 179 | 179 | 179 | 179 |
Standard errors in parentheses; ***p < 0.01, **p < 0.05, *p < 0.1
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