Heckman (1979) Two-stage regression results
| (1) | (2) | (3) | |
|---|---|---|---|
| Variables | Dependent variable: FDBOD | Dependent variable: ETR | |
| FPBOD | −0.152*** (0.058) | −0.083 (0.064) | |
| FPAC | 0.112* (0.065) | ||
| FPBOD × FPAC | −0.599** (0.241) | ||
| IMR | −0.014 (0.032) | −0.015 (0.031) | |
| INDGEN | 15.395* (8.542) | ||
| Constant | 3.723 (4.856) | 0.480 (0.303) | 0.421 (0.310) |
| All controls | Yes | Yes | Yes |
| Year fixed | Yes | Yes | Yes |
| Observations | 341 | 341 | 341 |
| Pseudo R2/Adjusted R-squared | 0.272 | 0.317 | 0.325 |
| (1) | (2) | (3) | |
|---|---|---|---|
| Variables | Dependent variable: | Dependent variable: | |
| −0.152*** (0.058) | −0.083 (0.064) | ||
| 0.112* (0.065) | |||
| FPBOD × FPAC | −0.599** (0.241) | ||
| −0.014 (0.032) | −0.015 (0.031) | ||
| 15.395* (8.542) | |||
| Constant | 3.723 (4.856) | 0.480 (0.303) | 0.421 (0.310) |
| All controls | Yes | Yes | Yes |
| Year fixed | Yes | Yes | Yes |
| Observations | 341 | 341 | 341 |
| Pseudo | 0.272 | 0.317 | 0.325 |
Superscripts ***, ** and * denote significance at the 1, 5 and 10% levels, respectively. Robust standard errors are reported in parentheses. The definitions of variables are given in Appendix
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