Robustness check: alternative measurements
| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) |
|---|---|---|---|---|---|---|---|---|---|---|
| Overall | Vat | bt | cit | iit | Overall | vat | bt | cit | iit | |
| GFPpt−1,n | 93.714** (51.776) | 346.787*** (89.609) | 183.787*** (60.258) | 174.862 (135.552) | 265.837*** (82.815) | 13.391** (5.603) | 45.249** (18.172) | 36.785** (17.771) | 37.684 (23.701) | 40.465** (18.562) |
| Constant | −165.707 (169.089) | −162.803 (167.838) | −157.379 (169.225) | −184.561 (172.487) | −207.380 (171.388) | −164.232 (167.584) | −143.337 (168.632) | −144.180 (167.651) | −168.303 (170.003) | −25.187 (279.856) |
| Firm-level characteristics | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| City-level characteristics | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Industry FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Province FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Observations | 10,537 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 |
| R-squared | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 |
| Variables | (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) |
|---|---|---|---|---|---|---|---|---|---|---|
| 93.714** (51.776) | 346.787*** (89.609) | 183.787*** (60.258) | 174.862 (135.552) | 265.837*** (82.815) | 13.391** (5.603) | 45.249** (18.172) | 36.785** (17.771) | 37.684 (23.701) | 40.465** (18.562) | |
| Constant | −165.707 (169.089) | −162.803 (167.838) | −157.379 (169.225) | −184.561 (172.487) | −207.380 (171.388) | −164.232 (167.584) | −143.337 (168.632) | −144.180 (167.651) | −168.303 (170.003) | −25.187 (279.856) |
| Firm-level characteristics | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| City-level characteristics | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Industry FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Province FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Year FE | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Observations | 10,537 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 | 10,485 |
| 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 | 0.036 |
Note(s): Standard errors are clustered at city-level and reported in parentheses; *, ** and *** denote significance at the 10%, 5% and 1% levels