variable

劳动密集型

资本密集型

技术密集型

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subsidy

0.0444^***

0.0921^***

0.0627^***

0.0984^***

0.0934^***

0.1598^***

(3.7863)

(9.4511)

(5.8483)

(10.2921)

(9.9663)

(18.7586)

age

−0.3042^***

−0.1286^***

−0.0168

−0.0193

−0.1441^***

0.0027

(−6.4650)

(−3.2844)

(−0.3687)

(−0.4756)

(−3.6182)

(0.0754)

size

0.5077^***

0.2972^***

0.3245^***

0.1023^***

0.4819^***

0.1818^***

(17.1311)

(12.0556)

(10.8123)

(3.8269)

(16.2180)

(6.7334)

lev

−0.1404

0.1396

−0.4313^**

−0.2454

1.2874^***

0.6267^***

(−0.7128)

(0.8518)

(−2.3267)

(−1.4857)

(7.9186)

(4.2423)

ocf

0.5029

0.3220

0.9428^**

0.6829^*

−0.8605^**

0.5898

(1.0067)

(0.7750)

(2.0885)

(1.6978)

(−1.9635)

(1.4811)

ROA

−0.2352

−0.4838

−0.4072

−0.4746

−0.1151

0.4476

(−0.2468)

(−0.6103)

(−0.6004)

(−0.7853)

(−0.1673)

(0.7162)

Tang

−0.4997^***

−0.5342^***

0.4850^***

0.7465^***

0.5846^***

0.7448^***

(−2.7585)

(−3.5450)

(2.6568)

(4.5888)

(2.8953)

(4.0592)

HHI5

0.3095

0.4982^**

0.0696

0.2926

0.2046

0.5681^**

(1.1740)

(2.2711)

(0.2861)

(1.3501)

(0.8211)

(2.5088)

_cons

−3.7238^***

−3.4166^***

−2.0456^***

−1.0254^***

−4.2288^***

−2.6096^***

(−11.8636)

(−13.0842)

(−6.4857)

(−3.6488)

(−13.4034)

(−9.1024)

N

1892

1892

2179

2179

2998

2998

R²

0.2657

0.2456

0.1273

0.1832

0.2339

0.2863