Heterogeneity test of degree of government intervention
| Model (1) | Model (2) | Model (3) | Model (4) | |
|---|---|---|---|---|
| Name of variables | Coef | Cofe | Cofe | Cofe |
| DT | 0.28816*** (0.0456) | 1.1049*** (0.4433) | −2.1770** (0.8546) | −0.9223 (0.7711) |
| Z1 | −0.7404*** (0.2299) | −0.1976 (0.4882) | −2.1784*** (0.5285) | −0.4792 (0.3176) |
| Z2 | −0.2893** (0.1380) | −3.5387** (1.008) | 0.1772 (0.4712) | −0.4108 (0.4628) |
| Z3 | −0.3676** (0.1806) | −1.4796*** (0.3150) | −0.9134*** (0.2426) | −0.2264*** (0.0606) |
| Z4 | −0.1058* (0.0633) | 0.2204 (0.1556) | −0.2198** (0.0982) | 0.2264 (0.0606) |
| Time fixed effects | Yes | Yes | Yes | Yes |
| Individual fixed effects | Yes | Yes | Yes | Yes |
| Constant term | 1.9384*** (0.3865) | 3.0631*** (0.7959) | 4.0741*** (0.9290) | −0.3385 (0.4687) |
| Adj R-squared | 0.9658 | 0.9895 | 0.9859 | 0.9950 |
| N | 177 | 22 | 45 | 29 |
| Model (1) | Model (2) | Model (3) | Model (4) | |
|---|---|---|---|---|
| Name of variables | Coef | Cofe | Cofe | Cofe |
| DT | 0.28816*** | 1.1049*** | −2.1770** | −0.9223 |
| Z1 | −0.7404*** | −0.1976 | −2.1784*** | −0.4792 |
| Z2 | −0.2893** | −3.5387** | 0.1772 | −0.4108 |
| Z3 | −0.3676** | −1.4796*** | −0.9134*** | −0.2264*** |
| Z4 | −0.1058* | 0.2204 | −0.2198** | 0.2264 |
| Time fixed effects | Yes | Yes | Yes | Yes |
| Individual fixed effects | Yes | Yes | Yes | Yes |
| Constant term | 1.9384*** | 3.0631*** | 4.0741*** | −0.3385 |
| Adj | 0.9658 | 0.9895 | 0.9859 | 0.9950 |
| 177 | 22 | 45 | 29 |
Source(s): Arranged by authors
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