Robustness test results
| (1) | (2) | (3) | |
|---|---|---|---|
| Hdp | Hdp | Hdp | |
| RDIPR | 0.127* (0.071) | ||
| HCT | 0.282** (0.110) | ||
| RDDN | 0.149* (0.079) | ||
| LA | 0.242 (0.178) | 0.256 (0.181) | 0.239 (0.185) |
| ROE | −1.229 (1.209) | −1.740 (1.237) | −1.173 (1.278) |
| TOP1 | 0.541 (0.838) | 0.727 (0.885) | 0.579 (0.890) |
| SOE | −0.631 (0.436) | −0.624 (0.459) | −0.648 (0.463) |
| SIZE | 0.648*** (0.158) | 0.650*** (0.164) | 0.634*** (0.168) |
| _cons | −1.292 (1.122) | −1.288 (1.154) | −1.150 (1.188) |
| Observations | 991 | 991 | 974 |
| (1) | (2) | (3) | |
|---|---|---|---|
| Hdp | Hdp | Hdp | |
| RDIPR | 0.127 | ||
| HCT | 0.282 | ||
| RDDN | 0.149 | ||
| LA | 0.242 (0.178) | 0.256 (0.181) | 0.239 (0.185) |
| ROE | −1.229 (1.209) | −1.740 (1.237) | −1.173 (1.278) |
| TOP1 | 0.541 (0.838) | 0.727 (0.885) | 0.579 (0.890) |
| SOE | −0.631 (0.436) | −0.624 (0.459) | −0.648 (0.463) |
| SIZE | 0.648 | 0.650 | 0.634 |
| _cons | −1.292 (1.122) | −1.288 (1.154) | −1.150 (1.188) |
| Observations | 991 | 991 | 974 |
Notes:
*Indicates p < 0.1; **indicates p< 0.05; ***indicates p < 0.01
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